15 AI Stocks Every Investor Should Be Watching

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

Number of Hedge Fund Holders: 70

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers. On February 19, Vivek Arya from Bank of America Securities reiterated a “Buy” rating on the stock with an associated price target of $150.00. The firm is optimistic about Marvell given its advancements in AI technology and its strategic partnerships. In the upcoming quarters, Arya anticipates improved financial performance on the back of its strong presence in AI optics.

Marvell is also well-established in custom AI application-specific integrated circuits (ASICs), predominantly with major cloud service providers like Amazon Web Services, Google, and Microsoft.  Moreover, its increasing cloud capital expenditures and fast-growing total addressable market (TAM) for AI further support its robust pipeline and execution strength. Arya also highlighted the company’s potential to capture a larger share of the AI accelerator market, potentially leading to substantial revenue gains over the next few years. With the Investor Day coming up, there is also a chance for further positive developments.