Qualcomm vs. Marvell: Which Underdog AI Chip Stock Has More Upside From Here?
Qualcomm has more upside because its AI data center push is still underappreciated, while Marvell's AI growth story is already well known.
In the world of artificial intelligence (AI) chip stocks, Qualcomm (NASDAQ: QCOM) and Marvell Technology (NASDAQ: MRVL) are two underdog companies vying for investor interest. Despite both companies having roots in traditional semiconductor manufacturing, Qualcomm appears to have a more promising future in the AI chip market.
Qualcomm is currently in the midst of a strategic transition from being a smartphone supplier to becoming a long-term partner for major cloud and social platforms. This shift is evident in the company's recent announcement of a comprehensive data center roadmap centered around its Dragonfly platform. The roadmap includes a server CPU called Dragonfly C1000 and an AI accelerator known as AI300. These products are designed to power the future data centers of major tech companies such as Meta Platforms (NASDAQ: META).
Meta has already committed to a multi-generation agreement with Qualcomm, pledging to supply CPUs for its upcoming servers. The production of these chips is set to begin in the second half of 2028, marking a significant departure from Qualcomm's past reliance on handset manufacturers. This long-term partnership demonstrates Qualcomm's growing influence in the AI chip market and highlights its potential for future growth.
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