MRVL - 2 Top AI Stocks to Buy Now According to Wall Street
2024-02-17 06:57:00 ET
As organizations ramp up investment in artificial intelligence (AI) technology, there are more chip stocks starting to get in on the action besides AI chip leader Nvidia .
Goldman Sachs lists Advanced Micro Devices (NASDAQ: AMD) and Marvell Technology (NASDAQ: MRVL) as two of its top AI chip stocks to buy right now. These companies are seeing accelerating demand for their AI chips that could fuel new highs over the next few years. Here are more details on what's fueling interest in these two AI stocks.
Shares of AMD are up 117% over the last year, despite the company experiencing a 4% decline in total revenue. AMD's chips are found in several markets, including video game consoles, personal computers, and even the world's most powerful supercomputers. However, investors are optimistic about the company's accelerating growth in data centers, where its new MI300X graphics processing units (GPUs) designed for AI are gaining significant traction in the marketplace.
For further details see:
2 Top AI Stocks to Buy Now, According to Wall Street