The Next $1 Trillion AI Winner May Already Be Hiding Inside Nvidia's Supply Chain
Marvell Technology is becoming the market's next hot AI growth stock.
The Next $1 Trillion AI Winner May Already Be Hiding Inside Nvidia's Supply Chain
Overview
In early June, Nvidia (NASDAQ: NVDA) CEO Jensen Huang predicted that Marvell Technology (NASDAQ: MRVL), which has a market cap of $272 billion, would become the "next trillion-dollar company" because its networking and connectivity chips were essential to data centers. Let's see if this oft-overlooked chipmaker can join the 12-zero club within the next few years.
Marvell once mainly produced Wi-Fi, Internet of Things (IoT), and mobile chips for consumer devices. But over the past decade, the company exited those cyclical, lower-margin markets. It aggressively expanded its data center segment with bold acquisitions (including Cavium in 2018 and Inphi in 2021) and new product launches.
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Originally published at www.fool.com.
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