10 AI News Investors Should Not Miss

6. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 70

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors and is focusing heavily on data centers. On December 2^nd, Barclays analyst Blayne Curtis maintained Marvell Technology, Inc. (NASDAQ:MRVL) with an “Overweight” rating and raised the price target from $85 to $115. The rating follows Marvell’s recent collaboration with Amazon Web Services, a partnership that will enhance the company’s capabilities in producing custom AI products and other advanced technologies, including optical DSPs and Ethernet switching silicon.

In particular, AWS’s provision of cloud-based electronic design automation solutions is expected to drive significant business growth. As part of Marvell’s deal with Amazon, Marvell has issued a warrant to Amazon that allows it to purchase up to approximately 4.18 million shares of Marvell’s common stock. This arrangement highlights Amazon’s spending with Marvell, further setting the stage for an enhanced partnership between the two.