Marvell Stock Drops on AI Development Concerns

Marvell Technology shares fell 8% in premarket trade on Monday after comments from Anthropic CEO Dario Amodei suggested a slower development cycle for advanced AI systems, which could impact the company's infrastructure development opportunities. Marvell will showcase its AI data-center connectivity and memory portfolio at the AI Infra Summit this week, providing investors with a glimpse of the company's stance on infrastructure spending. Despite the selloff, Wall Street remains optimistic, with 22 Buy recommendations and an average price target of $298.38.