UBS analyst Timothy Arcuri reiterated "Buy" ratings on Semtech and Marvell Technology before their late-August earnings, arguing that both remain exposed to the long expansion in AI infrastructure even as their shares look "somewhat expensive" against historical valuation multiples. Semtech is due to report on August 25, with Arcuri expecting revenue near the high end of guidance, October-quarter sales of $370 million to $375 million and EPS close to $0.70, supported by an 85% year-over-year second-quarter data center ramp and the possibility that fiscal 2027 growth exceeds 100%. Marvell, which reports on August 27, is seen benefiting from optical communications, networking, custom ASICs (client-specific chips) and CXL attach solutions (memory interconnect chips), including Microsoft Maia volumes that could add $1 billion to $2 billion of revenue. The setup was reinforced by Nvidia's Spectrum-X CPO (co-packaged optics) launch, OpenAI's 4.25-GW Ohio data center plan and broader expectations that AI compute spending will keep lifting demand for chips, memory and networking equipment, although Marvell already trades at about 59 times earnings estimates for the fiscal year ending January 2027.