The Next Wave of AI Innovation: 2 Undervalued Stocks Positioned for Explosive Growth in 2025 and Beyond

The artificial intelligence revolution is no longer confined to software and algorithms. As AI hardware and infrastructure demand surge, niche industries are emerging as critical enablers of this transformation. Two companies—Aehr Test Systems and Figma—are capitalizing on these shifts, leveraging their specialized expertise in semiconductor testing and cloud-based design tools to position themselves at the forefront of AI-driven growth. While their paths differ, both are demonstrating resilience, innovation, and market traction that warrant closer scrutiny from investors.

Aehr Test Systems: Pioneering AI Chip Testing in a High-Stakes Market

Aehr Test Systems, a long-time player in semiconductor testing, is undergoing a strategic metamorphosis to align with the AI era. Historically reliant on silicon carbide (SiC) wafer-level burn-in testing, the company has pivoted aggressively toward AI-specific solutions. This shift is paying off: in Q3 2025, Aehr reported net revenue of $18.3 million, a 140% increase from $7.6 million in the same period in 2024, driven by demand for its Sonoma ultra-high-power test systems tailored for AI processors [1].

The company’s backlog has also surged to $15 million as of May 2025, up from $7 million in 2024, reflecting growing interest in its capabilities for testing vertically integrated, or “stacked,” AI chips used in data centers [2]. These chips require rigorous thermal and electrical validation, a niche where Aehr’s expertise in burn-in testing gives it a competitive edge.

However, Aehr’s journey is not without challenges. Fiscal 2025 revenue fell to $59 million from $66 million in 2024, and the company posted an operating loss of $6 million compared to a $10 million profit [1]. Tariff uncertainties and shifting customer order patterns have forced Aehr to withdraw its fiscal 2025 guidance temporarily. Yet, recent developments—including a 40.66% stock rally following new AI processor testing orders—suggest that the market is beginning to recognize the company’s strategic repositioning [3].

Figma: Redefining Design Tools with AI-Driven Collaboration

In the cloud-based design tools market, Figma is emerging as a dominant force. With 13 million monthly active users and a 95% utilization rate among Fortune 500 companies, the platform has become indispensable for teams building digital products [1]. Its Q2 2025 revenue surged 41% year-over-year to $249.6 million, outpacing Adobe and other competitors [2].

Figma’s growth is fueled by its AI integration, particularly Figma Make, a prototyping tool that automates design workflows. This move beyond traditional design software into full-stack collaboration platforms is paying dividends: 76% of Figma’s customers now use two or more products, and its Net Dollar Retention Rate stands at 129%, indicating robust customer loyalty [4].

Despite these strengths, Figma’s post-IPO debut was rocky, with shares falling 19% in early trading. Analysts attribute this to tempered expectations and skepticism about sustaining hypergrowth [1]. Yet, the company’s financials tell a different story. Sales have jumped from $500 million in 2023 to $820 million in the last 12 months of 2025, and its high-margin SaaS model positions it to capitalize on the AI-driven design boom [3].

Strategic Positioning and Investment Rationale

Both Aehr and Figma are exploiting gaps in the AI ecosystem. Aehr’s focus on testing stacked AI chips—a technically complex and underserved niche—positions it to benefit from the data center infrastructure boom. Meanwhile, Figma’s AI-powered tools are addressing the need for faster, more collaborative design workflows in an era where AI models demand increasingly sophisticated user interfaces.

For investors, these companies represent asymmetric opportunities. Aehr’s stock volatility and recent recovery suggest undervaluation despite its strong backlog and product diversification. Figma, while facing near-term valuation pressures, offers a high-growth SaaS model with expanding margins and a clear path to dominance in design tools.

Conclusion

The AI revolution is reshaping industries far beyond the spotlight of generative AI and large language models. By targeting specialized markets—semiconductor testing for AI chips and AI-enhanced design tools—Aehr Test Systems and Figma are not only surviving but thriving in this new landscape. For investors willing to look beyond the obvious, these two stocks offer compelling exposure to the next wave of innovation.

Source:
[1] Aehr Test Systems Reports Fiscal 2025 Third Quarter [https://finance.yahoo.com/news/aehr-test-systems-reports-fiscal-200500033.html]
[2] If You Don't Know These 2 Artificial Intelligence (AI) Stocks ..., [https://www.nasdaq.com/articles/investors-if-you-dont-know-these-2-artificial-intelligence-ai-stocks-you-should]
[3] Tesla Rises, Dr Pepper Tumbles Among Monday's Market ..., [https://www.fastbull.com/news-detail/tesla-rises-dr-pepper-tumbles-among-mondays-market-news_7300_0_2025_3_137380_3]
[4] Evaluating Figma's S-1 - Ignite Insights, [https://insights.teamignite.ventures/p/evaluating-figmas-s-1]