15 AI News That Should Not Be Ignored

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

Market Capitalization: $79.91 billion

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the design, development, and sale of integrated circuits; preparing custom AI chips for big tech names such as Google and Amazon.

On November 11, Loop Capital initiated coverage of Marvell Technology, Inc. (NASDAQ:MRVL) with a “Hold” rating and a $95 price target. According to the firm, Marvell is benefiting from cloud service providers’ investments that they are making into high-performance general-purpose computing as well as accelerated computing for AI training and inference. Additionally, as MRVL trades at about 45 times the next 12 month’s earnings, the analyst believes that the stock is appropriately valued.

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