{"id":14058,"date":"2023-05-26T06:01:15","date_gmt":"2023-05-26T10:01:15","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/ai-stocks-are-on-fire-marvell-joins-nvidia-in-the-hot-plays\/"},"modified":"2023-05-26T06:01:16","modified_gmt":"2023-05-26T10:01:16","slug":"ai-stocks-are-on-fire-marvell-joins-nvidia-in-the-hot-plays","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=14058","title":{"rendered":"AI Stocks Are on Fire. Marvell Joins Nvidia in the Hot Plays."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000656791\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The artificial-intelligence frenzy is powering another technology stock rally.<br \/>\n        Marvell<br \/>\n       Technology is the latest chip maker to join<br \/>\n        Nvidia<br \/>\n       in surging as it forecasts AI to be a long-term growth driver.\u00a0<\/p>\n<p>Marvell (ticker: MRVL) stock rose 16% in premarket trading on Friday to $57.37. While its first-quarter earnings narrowly beat analysts\u2019 expectations on Thursday, the real excitement was about the semiconductor firm\u2019s AI prospects.\u00a0<\/p>\n<div class=\"paywall\">\n<p>\u201cIncreasing demand for generative AI is driving MRVL\u2019s network connectivity products and cloud-optimized silicon platform,\u201d analysts at KeyBanc wrote in a research note on Friday.\u00a0<\/p>\n<p>KeyBanc raised its target price on Marvell to $70 from $60 and kept a rating of Overweight on the stock.<\/p>\n<p>For those skeptical of an AI bubble, Marvell at least can say it is already making money from the technology. The company, which makes networking chips used in data centers, said it generated AI revenue of $200 million in its most recent fiscal year, out of total revenue of $5.92 billion. <\/p>\n<p>Marvell expects AI-related revenue to double to around $400 million in its current fiscal year and rise to $800 million in its next fiscal year.\u00a0<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/ai-stocks-marvell-nvidia-a2201a91?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The artificial-intelligence frenzy is powering another technology stock rally. Marvell Technology is the latest chip maker to join Nvidia in surging as it forecasts AI to be a long-term growth driver.\u00a0 Marvell (ticker: MRVL) stock rose 16% in premarket trading on Friday to $57.37. While its first-quarter earnings narrowly beat analysts\u2019 expectations on Thursday, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-14058","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AI Stocks Are on Fire. Marvell Joins Nvidia in the Hot Plays. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The artificial-intelligence frenzy is powering another technology stock rally. 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