“The AI trade needs a shot of adrenaline,” Terranova said, adding that Marvell is well positioned to deliver that momentum and shed light on the sector’s outlook.
Meanwhile, the VanEck Semiconductor ETF (SMH) has shown little change over the past week as investors reassess the sustainability of hyperscalers’ data‑center plans. Concerns are mounting over the reliance on fixed‑income markets to fund these projects, especially after a recent spike in Treasury yields raised borrowing costs. Additionally, local resistance to data‑center developments and persistent hardware constraints are raising doubts about the near‑term trajectory of AI infrastructure investment. Terranova emphasized that monitoring the Treasury market and the impact of rising yields on hyperscalers’ debt‑issuance capacity will be crucial moving forward.
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