Top 10 AI Stocks on Wall Street’s Radar

6. 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 January 6^th, Craig-Hallum analyst Christian Schwab raised the firm’s price target on Marvell Technology to $149 from $132 and kept a “Buy” rating on the shares. According to the firm, Marvell is a “Top Idea heading into 2025” as it is a major beneficiary of the accelerating multi-year AI megatrend. In FY’24, AI revenue for Marvell Technology was $550M. It is now anticipated that the AI revenue will be significantly above the previous expectations of over $1.5B in FY’25. Craig-Hallum added that AI revenue for FY26 is also expected to be significantly above the previous expectations of $2.5 billion. The upward revision mirrors Marvell’s strong position in the AI market. Analysts from Bank of America have also been bullish on the stock, citing that the chipmaker “has transformed into a data center silicon leader,” with “growth opportunities across cloud data centers, 5G infrastructure, advanced autos, enterprise networking, and security markets”.