Marvell - Another AI stock to look out for?

So what is this company all about, and how does it benefit from AI?

Marvell is a semiconductor company, primarily operating in the data infrastructure segment.

Its data infrastructure portfolio includes data centers, carrier infrastructure, enterprise networking, and also the auto and industrial end market.

Although it might not be a company that specializes in GPUs that link directly to AI, nowadays where most of the computing is done in the cloud, data centers are pivotal for allowing AI supercomputing to be enjoyed by the mass market.

Marvell posted USD 0.31 in adjusted earnings per share for Q1'24. Even though it's much lesser than the USD 0.52 per share in Q1'23, these results beat Refinitiv's estimates of USD 0.29.

Revenue came in at USD 1.32 billion, more than the USD 1.3 billion analyst prediction.

In the analyst conference call, Marvell CEO Matthew Murphy said the company had begun to reassess how it looked at the “tremendous” business potential of AI.

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