Both Broadcom and Marvell Technology are experiencing impressive gains due to demand for AI chips in data centers.

From Nasdaq: 2024-12-21 18:15:00

Semiconductor stocks Broadcom (NASDAQ: AVGO) and Marvell Technology (NASDAQ: MRVL) have seen impressive gains in 2024, with shares more than doubling due to the demand for their AI chips used in data centers. Broadcom’s revenue from AI chips surged 220% to $12.2 billion, with a forecasted market of $60-90 billion by 2027. Marvell is also experiencing growth, with data center revenue up 98% to $1.1 billion in Q3. Its AI revenue is expected to exceed $1.5 billion this fiscal year, with a target of $2.5 billion next year. Both companies are set for significant growth in the AI market.



Read more at Nasdaq: Better Artificial Intelligence (AI) Stock: Broadcom vs. Marvell Technology