Goldman Sachs’ Top Fund Manager Stock Picks: 25 Best Overweight Stocks

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

Number of Hedge Fund Holders In Q2 2024: 74

Overweight Percentage: 0.12%

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor company that caters to the needs of the data center industry. The firm provides products such as network adapters, switches, signal processors, and storage controllers. As a result, the fact that Marvell Technology, Inc. (NASDAQ:MRVL)’s stock is up by 65% since November 2022 is unsurprising due to the favorable catalysts for the data center industry due to artificial intelligence. The firm also has sizeable advantages when it comes to designing application specific integrated circuits (ASICs). These are use case specific specialty chips that can create tailwinds for Marvell Technology, Inc. (NASDAQ:MRVL) if the firm is able to provide AI chip alternatives to NVIDIA’s pricey and limited supply GPUs. The chip company is already making inroads into this front, as it is working with three firms for volume production of its custom AI accelerator chip.

Marvell Technology, Inc. (NASDAQ:MRVL)’s management provided details about these chips during the Q2 2025 earnings call:

“Our AI custom silicon programs are progressing very well, with our first two chips now ramping into volume production.

Development for new custom programs we have already won, including projects with a new Tier 1 AI customer we announced earlier this year, are also tracking well to key milestones. Looking ahead to the third quarter of fiscal 2025 for our data center end market, we are forecasting revenue growth to accelerate into the high teens sequentially on a percentage basis. We expect the largest contributor to this growth will be our AI custom silicon programs as they begin to ramp meaningfully in the third quarter, further augmented by ongoing growth from our optics portfolio.”