Marvell Technology (MRVL) has given its investors plenty to cheer about amid a remarkably choppy AI trade. Shares of the AI giant have surged over 160% in the past six months, according to Seeking Alpha data, as demand for its data center chips has fueled optimism. According to a note shared with TheStreet, after meeting CEO Matt Murphy and CFO Dan Durn, Bank of America's Vivek Arya sees plenty of reasons to continue doubling down on the stock. The momentum has continued of late as well. Shares have surged nearly 12% through September 11, while peers like Nvidia (NVDA) shed over 5% in value over the past week. For perspective, Marvell is involved in building the machinery behind AI.
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