Jefferies recommends Nvidia and Marvell Technology as top AI chip stocks ahead of earnings

From TipRanks: 2024-05-19 11:09:39

Artificial intelligence, AI, is a major player in the tech world, with companies touting their AI connections. Generative AI, like ChatGPT, is rapidly expanding its reach into diverse applications. Jefferies analyst Blayne Curtis sees massive opportunity for AI growth, recommending Nvidia and Marvell Technology as top AI chip stocks.
Nvidia, the third largest firm on Wall Street, has seen its stock soar due to its AI-capable chipsets. The company’s Blackwell platform promises breakthroughs in computing, data processing, quantum computing, and generative AI. Nvidia’s robust data center segment, linked to AI, drove revenue up 265% year-over-year to $22.1 billion in the last quarter.
Marvell Technology specializes in AI-related chipsets for data infrastructure and network carriers. The company’s optical technology products are crucial for supporting AI firms and data centers. Analysts are optimistic about Marvell’s ability to capitalize on the booming AI industry, with Blayne Curtis recommending the stock as a Strong Buy with an 18% upside potential.



Read more at TipRanks: Nvidia and Marvell: Jefferies Picks the Best AI Chip Stocks to Buy Ahead of Earnings