Marvell Technology Inc stock hit a new 52-week high, marking a roughly 105% increase year-to-date. The company announced a new strategic equity investment from Advanced Micro Devices (AMD). Additionally, Cisco's strong earnings and $5.3 billion in AI infrastructure orders boosted sentiment across the semiconductor ecosystem.
Marvell Technology shares surged 105% year-to-date following a strategic equity investment from AMD and strong AI infrastructure demand signals from Cisco.
Read the full storyNvidia shares rose 2.6% to a new record after reports indicated the U.S. cleared Chinese companies to purchase H200 AI chips.
Applied Materials reported strong fiscal second-quarter earnings that exceeded market expectations, according to reports.
Six major investment firms raised their price targets for Cisco Systems after a blowout fiscal Q3 earnings report triggered a nearly 20% stock surge.