Posted 12/29/2023, 1:00:00 PM
Marvell: A Cheaper Way to Invest in Booming AI Demand
- Nvidia stock has surged due to AI demand, but now has a rich valuation that turns off some investors
- Marvell Technology is a cheaper semiconductor stock that can also benefit from AI growth
- Marvell's revenue is weak now but expected to improve next fiscal year, driven partly by its fast-growing AI business
- Marvell's AI revenue could hit $1 billion next fiscal year and grow much larger long-term
- At a cheaper valuation than Nvidia, Marvell could be a good AI investment before shares move higher