10 AI Stocks That Will Skyrocket

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

Average Upside Potential: 40.5%

Number of Hedge Fund Holders: 105

Marvell Technology, Inc. (NASDAQ:MRVL) is a critical player in the broader AI industry as it designs custom silicon solutions, which include AI accelerators that are optimized for hyperscale data centers and cloud providers. Vivek Arya, an analyst from Bank of America Securities, reiterated a “Buy” rating on the company’s stock with the same target price of $150.00. The analyst’s rating was mainly backed by Marvell Technology, Inc. (NASDAQ:MRVL)’s advancements in AI technology and strategic partnerships. The analyst sees strong financial performance in the upcoming quarters, stemming from its healthy presence in AI optics and custom AI ASICs, mainly with well-established cloud service providers such as AWS, Google, and Microsoft.

Furthermore, the analyst lauded Marvell Technology, Inc. (NASDAQ:MRVL)’s strong pipeline and execution capabilities, which are aided by increasing cloud capital expenditures and a growing total addressable market for AI.  The company has the potential to enhance its share of the AI accelerator market, with Arya projecting strong growth in both compute and optics segments. If Marvell Technology, Inc. (NASDAQ:MRVL) can enhance its market share in such areas, it can result in significant revenue gains over the upcoming few years, says the analyst.

Carillon Tower Advisers, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:

“Marvell Technology, Inc. (NASDAQ:MRVL) is a leading provider of semiconductor chips for data centers. This past quarter, management highlighted very strong orders coming from customers in the artificial intelligence (AI) space as well as design wins for future AI-related chips. Management shared a long-term view for a revenue target that was above expectation.”