According to Evercore, IT hardware and AI infrastructure spending will continue to witness sustained momentum throughout 2026. The firm believes that companies will not only be investing in computing power, but also in storage and networking.
Earlier, the firm had predicted the S&P 500 climbing an estimated 20% to 7,750 by 2026. Analyst Julian Emanuel noted this to be powered by a “once-in-a-generation” shift from AI.
Evercore noted how storage and networking will potentially take up a larger share of IT spending, particularly as organizations work on bottlenecks around data latency and storage architectures. Notable names poised to benefit from AI workload shifts include Seagate Technology and Western Digital.
Moreover, names such as Pure Storage, NetApp, and Dell Technologies may also see gains even though there are potential challenges from NAND input costs. Meanwhile, server vendors such as Dell and Hewlett Packard Enterprise are expected to benefit from outsized investments from Tier-2 providers in AI compute.
Overall, the outlook suggests that AI-driven demand will support investment across multiple sectors throughout the year.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q3 2025.
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10. CoreWeave, Inc. (NASDAQ:CRWV)
Number of Hedge Fund Holders: 62
CoreWeave, Inc. (NASDAQ:CRWV) is one of the 10 AI Stocks Analysts Are Watching Closely. On January 5, Cantor Fitzgerald analyst Thomas Blakey reiterated an Overweight rating on the stock with a $131.00 price target. Despite short-term revenue timings shifts, firm analysts see long-term upside from Blackwell GPU adoption and discounted valuation vs peers.
The firm told investors in a research note that it has adjusted its estimates, shifting some revenue from Q4 2025 and Q1 2026 to Q2 2026 due to potential for further pushouts. Meanwhile, it has kept overall calendar year 2026 and 2027 projections relatively unchanged and slightly above consensus revenue estimates.
Cantor continues to believe in the AI infrastructure provider, noting how it is poised to benefit from AI hyperscale demand and next-generation GPU demand. The company currently has double-digit percentage of its fleet running on Blackwell GPUs, which is anticipated to increase throughout 2026 and 2027.
“Gemini’s end of C25 uptick in terms of performance versus peers, buoyed by Google’s TPUs, created a buying opportunity in CRWV shares that now trade ~3x C27 compared to ORCL at 6x and MSFT at 9x. On an EV/R/G, CRWV shares are trading 0.05x C27, a considerable discount to infrastructure software average 0.40x (median 0.3x). CoreWeave currently has DD% of its fleet running on Blackwell GPUs, in our view, and we expect this percentage to climb in C26 and even more so in C27. We believe exiting C27 CoreWeave’s full contracted 2.9 GW could be sold and nearly activated, creating a forward-looking $30b+ revenue run rate opportunity for C28, or an over 80% C25-C28 revenue CAGR, justifying our $131 PT.”
CoreWeave, Inc. (NASDAQ:CRWV) is a cloud platform provider that provides equipment for AI and other computing purposes.
9. Marvell Technology, Inc. (NASDAQ:MRVL)
Number of Hedge Fund Holders: 77
Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 AI Stocks Analysts Are Watching Closely. On January 6, Raymond James analyst Simon Leopold reiterated a Strong Buy rating on the stock with a $125.00 price target. The rating affirmation follows Marvell’s announcement of intent to acquire XConn, a provider of PCIe and CXL switching silicon and UALink technology.
The deal, worth about $540M, is expected to strengthen its AI data center connectivity solutions. Marvell noted that this acquisition enhances its switching portfolio by adding XConn’s PCIe and CXL products and strengthens Marvell’s Ultra Accelerator Link (UALink) scale-up switch team.
“This combination creates a compelling switching platform for accelerated infrastructure, advancing Marvell’s connectivity strategy for next-generation AI and cloud data centers.”
-Marvell’s Chairman and CEO Matt Murphy.
Raymond James favors this deal favorably, noting how the company’s product portfolio needed to catch up in this area. XConn’s technology can enhance Marvell’s market reach and also complement its xPU/ASIC offerings. The firm said that it is not adjusting its estimates for MRVL at this time since XConn is described as an early-stage company.
Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.
