WS #15456
Despite the broader market selloff, specific AI infrastructure names are seeing institutional support. TD Cowen upgraded Marvell Technology to Buy with a $350 price target, citing strong demand for custom AI accelerators. In contrast, legacy software provider FICO is cutting 15% of its workforce to integrate AI, signaling a shift toward efficiency over headcount growth. CoreWeave's expansion into India further underscores the global capacity race for AI compute. These developments suggest that while the macro environment is hostile, the AI capex cycle remains intact for specific beneficiaries.
Tech Sector Divergence and AI Infrastructure
Despite the broader market selloff, specific AI infrastructure names are seeing institutional support. TD Cowen upgraded Marvell Technology to Buy with a $350 price target, citing strong demand for custom AI accelerators. In contrast, legacy software provider FICO is cutting 15% of its workforce to integrate AI, signaling a shift toward efficiency over headcount growth. CoreWeave's expansion into India further underscores the global capacity race for AI compute. These developments suggest that while the macro environment is hostile, the AI capex cycle remains intact for specific beneficiaries.