Those who missed out on Nvidia’s recent price hike might consider putting their money into a company benefiting from artificial intelligence that is being overlooked: Marvell Technology. Nvidia on Tuesday joined the ranks of the elite $1 trillion market capitalization club, dominated by tech giants Apple, Alphabet and Microsoft. Shares are up 181% this year thanks to AI. This month alone, it surged 48% following a strong earnings report driven by explosive demand for AI chips. The chipmaker remains the clear winner in the AI arms race, but Wall Street analysts say Marvell Technology is also poised to capitalize on the trend. Barclays analyst Blayne Curtis wrote in a recent note to clients last week, “The inline guide has allayed concerns, but it was comments about AI that ignited the flames,” Barclays analyst Blayne Curtis wrote in a recent note to clients last week, referring to Marvell’s latest quarterly financial report. “Not sure if we can understand the recent AI bull run, but this is a name that should be on the list.” Marvell Technology has experienced some headwinds in terms of AI, up about 71% this year. Shares on Friday jumped more than 32% on their best day on record after the company reported superior results. Shares are up more than 61% this month, on their best monthly gain since 2001. Curtis added that Marvell represents a “safer way” for investors to put their portfolios. Get access to the latest wave of AI, even if the long-term potential and scale of AI remain unclear. Bank of America analyst Vivek Arya called chip stocks and AI beneficiaries “undervalued” in a recent note. He added that demand for synthetic AI will drive multi-year demand for custom silicon and accelerate the “technological refresh rate” for needed networking solutions. Because of this cloud’s need for AI, Arya raised her price target to $70 from $51 a share, reflecting a roughly 7% gain from Friday’s closing price and reiterating her rating. buy from him. Elsewhere, Citi’s Atif Malik opened a positive catalyst watch for the stock, saying he expects management to highlight Marvell’s acceleration in its mid-market business. Its data center in the second half of the year was driven by the PAM4 DSP, which provides connectivity for the AI cloud and 5G, among others. MRVL YTD climbs Marvell Technology stock year-to-date He highlighted Marvell’s estimate that AI revenue will hit $200 million this year and hit more than $400 million by 2024 before doubling in 2019. 2025. “Overall, MRVL’s AI revenue is expected to grow at a 100% CAGR from FY23-FY25,” Malik said. – CNBC’s Michael Bloom contributed reporting