Top 10 Trending AI Stocks on Wall Street

3. 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 22, KeyBanc analyst John Vinh raised the firm’s price target on Marvell Technology to $135 from $125 and kept an “Overweight” rating on the shares. KeyBanc expects Marvell to report better-than-expected financial results and guidance. This is because the firm anticipates AI demand to remain strong, particularly for AI custom application-specific integrated circuits (ASICs) that are custom-designed chips for specific customers and tasks. The firm also added that channel feedback has revealed the Trainium Ultra win to be another positive for the company. The company has secured a contract with Amazon Web Services Trainium2 Ultra servers for supplying its custom ASICs. The deal is expected to maintain revenue for Marvell until its Maia V2 products kick in, in late 2026. In addition, the firm also pointed out to competitor challenges, such as Mellanox having issues with 1.6T DSP, implying a competitive edge for Marvell.