Marvell Technology shares rose 2.17% to $226.50 in Wednesday premarket trading as semiconductor stocks advanced, with Nasdaq futures up 0.61% and S&P 500 futures up 0.36%. Bank of America analyst Vivek Arya said Marvell may be underestimating its artificial-intelligence opportunity after meeting CEO Matt Murphy and CFO Dan Durn. Arya estimates the market for custom AI chips and related components could reach about $300 billion by 2030, compared with Marvell’s roughly $55 billion estimate for 2028 issued in June 2025. He sees Marvell’s XPU-attach business, which includes connectivity and memory chips used alongside custom AI processors, as a major opportunity. Bank of America estimates Marvell could capture about $30 billion of a potential $60 billion to $65 billion XPU-attach market by 2030. Arya reiterated his Buy rating and $365 price forecast and named Marvell his favorite AI networking stock. Investors will watch the company’s Oct. 6 analyst day for updates on its market opportunity, margins and earnings outlook. Marvell remains about 45% above its 200-day simple moving average, while its 50-day average remains above its 200-day average, preserving the golden-cross pattern formed in October 2025. Its relative strength index is 48.92, with resistance near $254.50 and support around $200.50. The stock has a Buy consensus rating and an average price forecast of $295.25, trades at about 73.4 times earnings and scores strongly on growth and momentum but weakly on value in Benzinga Edge rankings. Semiconductor-focused ETFs also hold the shares, including FTXL, XNTK and SOXQ.