The “Elon Musk’s NEW AI Masterplan” pitch from Brownstone Research’s Near Future Report points investors at three “secret” stocks, one for each step of a plan where Musk would “take control of the entire AI industry.” The applications pick is onsemi, and the pitch frames it as the “backdoor” into the robotics wave. To understand that pick, it helps to see where onsemi sits in the wider power semiconductor market and who it competes with.
The pitch’s headline promise is that these three stocks can “unleash enough wealth to make every household in America $2.38 million.” The mechanism underneath the applications step is real: robots need power chips and sensing chips in volume. The marketing, as usual, runs a few steps ahead of the fundamentals.
The power semiconductor market
The power chip market is dominated by a handful of large players. onsemi is the second-largest power chipmaker in the world, competing with names like Infineon, STMicroelectronics, and Texas Instruments, plus specialist silicon carbide producers like Wolfspeed. The category splits into discrete components, like individual power MOSFETs and diodes, and modules that package many of them into a single power stage.
What separates the leaders is a mix of scale, design expertise, and access to the right manufacturing capacity. Power chips do not need the most advanced logic nodes, but they do need precise engineering and the ability to ship reliably at automotive and industrial quality levels.
What makes onsemi distinct
onsemi has two things that most peers do not have in the same combination. First, it is a top-two power chipmaker by scale, with parts in electric-vehicle drivetrains, automotive safety systems, and industrial energy infrastructure. Second, it is one of the biggest suppliers of image sensors to the automotive market. That pairing of power and sensing is unusual, and it is why the robot angle lands on onsemi specifically.
The pitch notes that onsemi is “already supplying Tesla with a key piece of sensor technology.” That relationship is real, and the idea that it could extend to the Optimus humanoid robot is plausible. Morgan Stanley has flagged onsemi as a way to play the robotics trend.
The peer comparison in plain terms
The pitch does not reveal the other two stocks, but our teardown identified them as ASML for the chips step and STMicroelectronics for the energy step. Compared with a pure silicon carbide specialist like Wolfspeed, onsemi is more diversified and far more profitable today, but it does not carry the same concentrated exposure to the silicon carbide ramp. Compared with an analog giant like Texas Instruments, onsemi has more direct electric-vehicle exposure. Each is a different way to play the same electrification theme.
The honest risks
onsemi trades at about 18 times forward earnings with a roughly $28 billion market cap, and its tease price equals the current close of $71.67. That is a re-pitch at the current price, not a fresh discovery. Its revenue today is overwhelmingly automotive and industrial, and the Optimus catalyst is years away from shipping in volume.
There is also a marquee number in the ad that belongs to a different pick. The “$500 billion in 2027” figure is aimed at ASML, whose annual revenue is around $30 billion. No semiconductor equipment maker is anywhere near that scale, and the number is a credibility tax on the entire ad. The “39 hedge funds are investing” line is filler, true of essentially every large-cap.
The power chip market is also cyclical in a way that matters to investors. Demand tracks vehicle production, factory spending, and energy investment, and when those slow, power chip pricing and volumes follow. onsemi lived through that cycle already: in 2021 and 2022 it was the hot electric-vehicle story, the stock ran ahead of itself, and it gave most of the gain back. Its earnings per share today are well below that peak, and the share price is roughly where it was several years ago. That history is the main reason to treat the current robot narrative with patience rather than as an imminent payoff. The mechanism the pitch describes is real, but this market has a habit of pricing the next big thing early and correcting later. None of that makes onsemi a bad company. It just means the entry point and the timeline matter more than the headline.
The takeaway
onsemi is a quality power semiconductor franchise with a real moat in automotive image sensors and a fair valuation. If you want exposure to electrification and robotics, it is a legitimate way to get it. The pitch just oversells the timeline. For the theme in context, see our physical AI explainer, and for the robot angle, our Tesla Optimus coverage.
The offer is worth stating plainly. The Near Future Report costs $179 for the first year and renews at $199, with a 30-day refund window, so you can read the full reports and ask for your money back if they do not hold up. Subscribing unlocks the special report the pitch is built around, the “Manifested AGI Revolution,” which names the stocks the ad teases. The fine print worth remembering is that these are large, well-covered companies trading near their current prices, not the “secret” the headline suggests.
Ready to see the research? Click here to view the Elon Musk’s AI Masterplan presentation.
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