Top 10 AI News Stories For The Weekend

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

Number of Hedge Fund Holders: 70

Marvell Technology, Inc. (NASDAQ:MRVL) develops custom application-specific integrated circuits (ASICs) and other semiconductor solutions. It is establishing itself as a key player when it comes to the demand for artificial intelligence processors. On December 4, Benchmark analyst Cody Acree raised the price target on Marvell to $135.00 from $115.00 and maintained a “Buy” rating. The company’s previous two earnings results demonstrate how it has started reaping the benefits of delivering custom AI chips. Analysts believe the company’s potential client list includes Google, Amazon Web Services, and Microsoft, as those companies are seeking alternatives to Nvidia’s hardware.

“We believe Marvell offers investors a unique, non-Nvidia, alternative to gain leverage to the AI/Data Center trade, with 73% of its revenue currently derived directly from the AI and Data Center markets”.

-Benchmark Research analyst Cody Acree.