Bank of America: In addition to NVIDIA and AMD, Broadcom and Marvell Technology will also benefit from Saudi AI deals
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Bank of America pointed out that NVIDIA and AMD are the main beneficiaries of Saudi Arabia's artificial intelligence transactions, with Broadcom and Marvell Technology also set to benefit. NVIDIA has reached an agreement to sell hundreds of thousands of AI chips to Saudi Arabia, while AMD has secured a $10 billion partnership with Humain. Analysts have raised the target prices for NVIDIA and AMD to $160 and $130, respectively, and reiterated a "buy" rating for all four companies, believing that artificial intelligence opportunities will bring long-term gains
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