Jim Cramer Just Discussed These 13 Stocks

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

Number of Hedge Fund Holders In Q3 2024: 70

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor firm. It designs and sells products such as SoCs and ethernet controllers to the data center industry. The firm’s shares are up by a cool 85% year-to-date as they have been propelled by the market’s enthusiasm surrounding custom AI chips. While NVIDIA’s GPUs are the AI industry’s mainstay, they are costly and in short supply. These constraints have forced big tech to diversify its AI chip supply base, and along with Broadcom, Marvell Technology, Inc. (NASDAQ:MRVL) is one of the winners from this strategy. For Cramer, Marvell CEO Matt Murphy is another key part of its hypothesis. According to him:

“Matt Murphy is a very calm, very exciting triathlon, you know I’ll beat you no matter what, guy. And he kept trying to say it’s happening, the inflection is happening. I don’t think he got the word. So then he just went and bought a million dollars of the stock. In the market. . . and said listen, you don’t believe me? Here’s a million bucks. And that was his money put in okay. I’m canceling 10B, I’m putting in the Form 4. And that was the bottom! And that was a very important thing.”