We put together a list of the 10 Best Semiconductor Stocks to Buy for the AI Boom. In this piece, we’ll explore how Marvell Technology, Inc. (NASDAQ:MRVL) compares to its peers in the semiconductor field.
It’s been over two years since the AI wave began, sparked by OpenAI’s ChatGPT. Since then, the push for AI has really taken off. In 2023 and 2024, the demand for advanced AI tools has grown across various businesses, prompting them to invest heavily in data centers that provide the necessary computational power.
As AI continues to advance, data centers are booming. These centers need to expand their storage and processing power, leading to significant investments in infrastructure. Since these centers depend on the latest semiconductors, the surge in their demand is boosting semiconductor stocks. These chips are essential for processing large volumes of data quickly and efficiently.
Our Methodology
We looked at 35 semiconductor stocks from iShares’ Semiconductor ETF and combined that with data from hedge funds to find the 10 most popular options. We focus on these stocks because research shows that following the moves of top hedge funds can lead to better market performance. Our quarterly newsletter, which picks 14 stocks, has risen 275% since May 2014, far outpacing the benchmark.
An assembly line in a semiconductor factory, with workers at their stations.
Number of Hedge Fund Holders: 70
Marvell Technology Inc (NASDAQ:MRVL) is a key player in the chip design business, focusing on wired networking. It’s the second largest in its field. Marvell’s chips are used in many markets, including data centers, automotive, and consumer electronics. They offer a variety of products like processors and storage controllers.
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Marvell Technology, Inc., data centers, AI revolution, hedge fund, AI applications, Artificial Intelligence, data storage, Semiconductor Stocks, AI stock
