Marvell stock rallies on Empower partnership: how high can it go?

Marvell Technology Inc MRVL rallied more than 10% this morning after announcing a collaboration with Empower Semiconductor on developing integrated power solutions for its custom silicon platforms.

These optimised solutions will help improve the overall performance and efficiency of artificial intelligence (AI) data centres, according to the company’s following the company’s latest earnings release.

Cramer remains constructive on MRVL shares, particularly because the chipmaker is working with hyperscalers, including Amazon.com Inc., on custom AI chips.

His bullish call on Marvell Technology is in line with Wall Street analysts as well.

The consensus rating on the Nasdaq-listed firm currently sits at “buy” with the mean target of about $90, indicating potential upside of another 18% from here.