Marvell Stock Jumps After Unveiling Multi-Billion AI Chip Deals
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Marvell Technology's stock rose 6% following positive analyst reactions to its AI chip announcements, including major design wins and a broader market outlook. The company revealed two new XPU projects, totaling 13 design wins, with significant revenue potential. Analysts from Evercore ISI, Morgan Stanley, and Bank of America provided varying price targets, highlighting Marvell's ambition to capture a share of the $94 billion data center market and its ongoing collaborations with Microsoft and Amazon.
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