<div id="readability-page-1">There's no denying that technology powerhouse Nvidia (NVDA -2.25%) has been the centerpiece of the artificial intelligence (AI) movement thus far. Its processors are the heart and soul of most data centers. Its stock has beaten the daylights out of the overall market since early 2023, when the artificial intelligence revolution reached its full stride. Shares are up more than 800% during this two-year span, versus the S&amp;P 500's 58% advance for the same timeframe. However, as is always the case, things change. Competition creeps in. Technology evolves. Customers begin thinking about more specific solutions to their unique challenges, and investors' euphoric interest in an industry leader's stock fades. Anyone considering stepping into -- or holding on to -- a stake in Nvidia might want to instead consider one of the technology industry's other top growth prospects: Marvell Technology (MRVL 10.79%). <h2>Marvell Technology, up close and personal</h2> Not familiar with it? You're not alone. Its sub-$100 billion market capitalization just doesn't turn many heads, particularly compared to Nvidia's $3 trillion market value. Marvell also hasn't exactly caught the eye of many hedge funds and money managers that often have their finger on the pulse of the proverbial &#34;next big thing.&#34; Of The Motley Fool's recent look at 16 different billionaires' hedge fund holdings, the company wasn't a major position for any of them -- but maybe it should be. Marvell isn't a top-of-mind name for investors on the hunt for a new way to plug into the artificial intelligence movement. It's quietly been there all along, though. This company makes everything from data center switches to hard drive controllers to the computer processors you don't hear much about, but would certainly notice if they didn't exist. Its tech is found in 5G connectivity equipment, automobiles, and, perhaps most notably, AI data centers that increasingly need entire walls of motherboards to work together as a single, massive digital brain. Earlier this week, for instance, the company unveiled its new Aquila DSP (digital signal processor), which is capable of handling 1.6 trillion bits of digital data every second. This power-efficient technology can be used in densely packed data centers with up to 20 kilometers' worth of connectivity wiring. That's why technology market research outfit Dell'Oro Group thinks the market for this new type of data center processor will grow at an average annual clip of 200% over the course of the coming five years. That's just one of the kinds of technologies Marvell makes. Also earlier this week, the company announced a design breakthrough for high-bandwidth memory (or HBM) modules. This solution should provide AI platforms with 25% more computing power than comparable systems currently do, without taking up any additional space. Mordor Intelligence believes this better-developed global HBM market is set to grow at an annualized pace of nearly 26% through 2029. Nvidia's processors are workhorses, to be sure. If artificial intelligence is going to begin its next chapter, though, the tech these AI processors are attached to will also need to be next-generation stuff. Marvell Technology is leading this low-profile charge. <h2>Still bullish despite recent gains</h2> For better or worse, Marvell's growth prospects are increasingly being reflected in the stock's price. Shares are up more than 200% since the end of 2022, with roughly half of that gain materializing just since the middle of this year as its research and development efforts -- along with the need for them -- took center stage. The big run-up seems like a tough act to follow, leaving shares priced at a frothy 40 times next fiscal year's projected per-share profits of $2.76. This is arguably one of those cases, however, where any decent dip is a buying opportunity. While such a valuation is seemingly sky-high compared to the overall market, that's not how storied growth stocks trade these days. Such stocks can sustain and even add to a steep premium based not on next year's likely earnings, but rather, the company's plausible profit five years and even 10 years down the road. There's little doubt that Marvell Technology is well-positioned to capture at least its fair share of the AI technology market's foreseeable growth. As Benchmark analyst Cody Acree explained of his recent increase in the firm's target price for the stock, &#34;Marvell is one of only two custom silicon suppliers that provide NVDA GPU competitive accelerators to three of the industry's largest hyperscale data center companies, with Amazon and Google having contracted Marvell to co-develop custom accelerators uniquely tailored to serve their specific AI workloads.&#34; Acree adds to his bullish thesis: &#34;After years of engagement, development, and qualification, these processors are currently ramping with volume production revenue, which when combined with its strong ramp in Optical Connectivity, Marvell is said to be on pace to 'well-exceed' its FY25 and FY26 targets for AI to earn $1.5 billion and $2.5 billion, respectively.&#34; <div><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDA3MzEvMTIxMTI0LW1hcnZlbGwtcmVzdWx0cy1vdXRsb29rLnBuZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="472" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDA3MzEvMTIxMTI0LW1hcnZlbGwtcmVzdWx0cy1vdXRsb29rLnBuZyZ3PTcwMA"/>Data source: StockAnalysis.com. Chart by author. </div> He's hardly the only bull. The vast majority of the analyst community still rates Marvell stock as a strong buy, despite its recent enormous gains. <h2>If you like it, just buy it already</h2> Will billionaires, hedge funds, and other institutional stock-pickers ever get on board and add Marvell Technology to their portfolios? Maybe. Or maybe not. Nobody knows for sure. Don't be dissuaded just because Marvell isn't currently a favorite among the proverbial &#34;big money&#34; tier of investors. Plenty of these in-the-know investors weren't exactly on board with Nvidia when it first started to roar, either. It can take time for this crowd to find a new darling, and then convince themselves to dive in. If you like the underlying story and the stock's long-term risk-versus-reward scenario, go ahead and buy now -- even near its recently reached record peak. </div>

NVDA

MRVL

Nvidia has dominated the AI market, with its stock soaring over 800% since early 2023. However, competition is rising, prompting investors to consider alternatives like Marvell Technology, which has quietly been integral to AI infrastructure. Marvell's recent innovations, including a powerful digital signal processor and advancements in high-bandwidth memory, position it for significant growth. Despite a 200% stock increase since 2022, analysts suggest that Marvell remains a strong investment opportunity, especially as it partners with major companies like Amazon and Google for custom AI solutions.

- Nvidia has dominated the AI sector, with its stock rising over 800% since early 2023, but competition is increasing.  
- Marvell Technology, though less known, is making significant advancements in AI-related technologies, including a new digital signal processor and high-bandwidth memory modules, positioning itself for substantial growth.  
- Analysts remain bullish on Marvell, suggesting it could capture a significant share of the AI market, despite its stock's recent surge.

Should You Forget Nvidia and Buy This Tech Stock Instead?