Advanced Micro Devices Inc. (NASDAQ:AMD) disclosed a new position in Marvell Technology Inc. (NASDAQ:MRVL) in its latest 13F filing, revealing a stake that appears to have already delivered a sharp paper gain.

AMD Bets on MRVL

According to the filing, AMD reported owning 65,516 shares of Marvell Technology, valued at $6.49 million at the time of the filing. That works out to an implied price of roughly $99 per share for the position.

If Marvell shares are now up about 66% from AMD's implied entry price, the stake would be worth roughly $10.8 million today. That would put AMD's unrealized gain at approximately $4.3 million, based on the disclosed share count.

The Marvell position was one of four equity holdings listed in AMD's 13F. The filing also showed 5.71 million shares of AI-powered drug discovery firm Absci Corp. (NASDAQ:ABSI), 1.15 million shares of Sanmina Corp. (NASDAQ:SANM) and 200,000 shares of Xanadu Quantum Technologies (NASDAQ:XNDU).

But Marvell stands out because of the timing. 

The chipmaker has been one of the more closely watched semiconductor names tied to artificial intelligence infrastructure, custom silicon and data center demand. 

Investors have increasingly focused on companies supplying the chips, networking components and connectivity solutions needed to support AI workloads.

Semiconductor Trade

For AMD, the disclosure adds another wrinkle to the broader semiconductor trade. The company is already a major player in AI accelerators and data center chips, competing for share in a market dominated by Nvidia Corp. (NASDAQ:NVDA). 

A stake in Marvell, even a relatively small one compared with AMD's overall size, suggests exposure to another key name in the AI hardware ecosystem.

It is important to note that 13F filings are backward-looking, show holdings as of the end of the most recent reporting period and do not confirm whether AMD still owns the position today. 

The filing also does not explain the company's investment rationale.

Still, the math is eye-catching. A roughly $6.5 million Marvell stake turning into an estimated $10.8 million position in a matter of months would mark a quick win for AMD, assuming the company has continued to hold the shares.

Price Action

AMD Price Action: Advanced Micro Devices shares were down 1.87% at $439.92 at the time of publication Wednesday, according to Benzinga Pro.

Over the past month, AMD has gained about 79.5% versus a 8.7% rise in the S&P 500 and is up roughly 101% year-to-date compared to the index’s 7.4% gain.

MRVL Price Action: Marvell Technology shares were up 6.49% at $175.17 at the time of publication Wednesday. Over the past month, MRVL has gained about 30.1% versus a 8.7% rise in the S&P 500 and is up roughly 95% year-to-date compared to the index’s 7.4% gain.

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