Nvidia (NASDAQ:NVDA) and AMD (NASDAQ:AMD) stand to reap the biggest rewards from Saudi Arabia's recent AI deals, but Broadcom (NASDAQ:AVGO) and Marvell (NASDAQ:MRVL) will also see gains, Bank of America says.

Warning! GuruFocus has detected 3 Warning Signs with NVDA.

BofA analysts led by Vivek Arya note that while NVDA and AMD are spearheading separate 500-megawatt AI compute projects, complementary networking benefits should flow to AVGO and MRVL, along with optical, memory, semicap and foundry partners.

Arya raised his price targets on Nvidia to $160 (from $150) and on AMD to $130 (from $120), stressing that AMD's joint?venture approach under CEO Lisa Su still represents an important win.

He reiterated Buy ratings on all four names, arguing that the AI opportunity will provide benefits long?term across chips, interconnects and infrastructure. Bank of America's note highlights that details remain light but that press releases and industry discussions confirm broad ecosystem uplift.

Why It Matters: Investors looking to play the Saudi AI build-out should overweight core GPU names while also tapping networking and infrastructure suppliers that underpin hyperscale campuses.

Investors will be watching upcoming earnings and any project milestones to see how these players convert Saudi commitments into booked revenue.

This article first appeared on GuruFocus.

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