10 AI News That Broke The Internet

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

Number of Hedge Fund Holders: 70

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor firm with a significant focus on data centers. The company was awarded a “Buy” rating on December 4 by DBS analyst Fang Boon Foo, having reiterated its bullish stance on the stock. Marvell Technology has been thriving in the data center market, with revenues surpassing expectations that are driven by a strong demand for its AI technologies. The company makes custom AI chips for Alphabet’s Google, Amazon and Microsoft.

The company’s leadership in communications and connectivity, reinforced by key growth areas such as data infrastructure, cloud, and 5G, underpins its market advantage. Moreover, its shift from consumer products achieved through strategic acquisitions like Innovium, Inphi, and Aquantia, demonstrates its commitment towards stable enterprise solutions. Lastly, expected growth in return on equity and a recovery in non-AI segments support a positive outlook despite past challenges.