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November 12, 2024November 12, 2024

Nancy Pelosi's Stock Picks Broadcom And Nvidia Among Key AI Stocks Poised For Chip Boom, Says Analyst

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Analyst Blayne Curtis highlighted that Nvidia NVDA, Marvell MRVL, and Broadcom AVGO are strategically positioned to capitalize on the AI chip market surge. Curtis has assigned Buy ratings to each of these companies.

Jensen Huang-led Nvidia is experiencing extraordinary demand that surpasses its rapidly growing capacity, Curtis noted. Major tech firms are increasing their investments in GPUs and internal ASIC programs, he added. Despite this, Nvidia is expected to maintain its dominant market share, with room for ASICs to expand, Barron’s reported on Tuesday.

Curtis projects the AI accelerator market to expand by 58% annually, growing from $47 billion in 2023 to $287 billion by 2027. He sees no slowdown in capital expenditure from tech giants like Microsoft, Alphabet, and Meta.

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Marvell and Nvidia are expected to see the most immediate gains, with Broadcom likely to outperform later in 2025. Currently, Broadcom’s AI chip business is largely driven by Google by Alphabet Inc. GOOGL GOOG, but Curtis anticipates broader adoption in the coming years. Rep. Nancy Pelosi (D-Calif.) also disclosed in late June the purchase of 20 call options in Broadcom.

Price Action: At the time of writing on Tuesday, Nvidia was down by 1.09%, Marvell was trading 0.90% lower while Broadcom was down by 0.067%, as per Benzinga Pro.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari

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