Marvell Technology earnings could be a ‘shot of adrenaline’ for the AI trade, says Joe Terranova
Marvell Technology will report its earnings this week, potentially giving the artificial intelligence trade a much-needed “shot of adrenaline,” Virtus Investment Partners chief market strategist Joe Terranova told CNBC’s “Halftime Report” on Tuesday. The chipmaker is slated to post its fiscal second-quarter results on Thursday, which should help investors gauge whether hyperscalers will continue to plow capital into their planned multi-billion-dollar data center buildout at their current pace, according to Terranova. That, in turn, could boost semiconductor and other AI-linked stocks that have traded sideways as of late, he said. “The AI trade needs a shot of adrenaline,” Terranova said. “Marvell is clearly the company that can give it to them, and [it] also can really speak towards what the outlook ultimately is going to be.” The VanEck Semiconductor ETF (SMH) is trading relatively flat week to date as investors reassess the sustainability of hyperscalers’ plans to build data facilities across the U.S. Those plans have served as a major driver of the AI trade. Shares of Marvell Technology were little changed over the same period. MRVL mountain 2026-08-23 Shares of Marvell Technology are little changed week to date. Lately, investors have cast a critical eye toward hyperscalers’ reliance on fixed-income markets to fund their data center buildout, particularly after a record rise in Treasury yields last week threatened to increase the cost of corporate borrowing. Meanwhile, growing backlash against data centers from local communities and ongoing hardware bottlenecks are adding to concerns that investments into the AI infrastructure buildout may soon slow. “I think we need to focus on what’s going on in the Treasury market and the effect of rising yields on the ability for hyperscalers to continue to issue debt at levels that are favorable to them,” Terranova said. “That’s becoming more and more a real issue.”
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