A company I have a very keen eye on right now in the chip/AI sector is ASML holdings.
The company is undergoing a significant drawdown in price over the last while due to overvaluation plus some slowing sales in China. However, the company does have a practical monopoly on the products it creates, which are EUV machines (extreme ultraviolet lithography). These are not cheap machines, often in excess of $200M+, and there really just isn't any other company that produces them.
I haven't pulled the trigger on adding it to the bull list just because I do want to see some sort of stabilization or a bottoming in price. There are a lot of worries about potential regulations in China and the company's exposure to China overall that is resulting in some lower sales and lower bookings. However, I do believe this company will do very well in the future.
Outside of that, picking AI/semiconductor options is very difficult as the market is what I would call "priced to perfection". A lot of these stocks are at valuations which I feel are simply unsustainable except in the environment their earnings grow over and above analyst expectations, which are already very lofty.
The best way to reduce volatility and possibly not "pick the wrong horse" per se in this race is the buy something like CHPS.TO, SOXX etc, to get exposure to the entire industry.