Posted 3/27/2024, 12:07:43 PM
AI Chip Stocks Rally on Soaring Demand for AI Capabilities
- AI chip sector has seen significant rally recently due to escalating demand for AI capabilities across industries
- Rapid advancements in AI applications like machine learning and computer vision fueling growth in AI chip stocks
- Nvidia and AMD have been major beneficiaries, with stock prices surging over 80% in last 12 months
- Citi bullish on Marvell Technology stock ahead of April 11th AI investor event, sees 18% upside
- At event, expect Marvell to discuss $40B custom ASIC market and AWS/Arm-based chip ramps