Chip stocks gain; BofA sees AI infrastructure capex nearing $1.5 trillion by 2027

Marvell Technology

06/07/2026 16:32

** Shares of Marvell Technology MRVL.O rise 4.1% to $255.32, while those of Broadcom AVGO.O up 4.1% at $375.16
** Micron Technology MU.O rises 2.5% to $999.67; Advanced Micro Devices AMD.O jumps 9% to $564.35
** BofA expects global cloud and AI infrastructure capex to reach $1.5 trillion by 2027, up 40%-50% YoY, supported by token growth, AI agent adoption and supply-constrained infrastructure 
** All four U.S. tech giants signal AI spending will not slow, with combined 2026 capex expected to exceed $700 billion, up from about $600 billion previously anticipated
** Brokerage says lower-cost Chinese AI models should accelerate AI adoption and boost demand for compute, memory, networking and power infrastructure
** Up to last close, Philadelphia SE Semiconductor Index .SOX had risen ~78% this year

(Reporting by Anzar Mehraj in Bengaluru)
((Anzar.Mehraj@thomsonreuters.com;))