Markets have been choppy over the last few weeks, but the AI rally appears to be building momentum again as several major stocks bounce off key technical levels.

Earnings season was a positive one for this trade, and many companies in the semiconductor ecosystem reported blowout numbers.

Today, we’ll look at five stocks at the heart of the AI trade that have technical momentum and strong fundamental growth prospects. Each stock is a major player with a market cap of at least $20 billion and a minimum score of 90 on the Benzinga Edge Growth metric.

Marvell Technology Inc. 

Benzinga Edge Growth Score: 99.81

Fabless chip designer Marvell (NASDAQ:MRVL) has its hands on key interconnect layers after a March cash infusion from NVIDIA, which ponied up $2 billion to integrate Marvell into its AI-RAN ecosystem.

Fiscal Q1 2027 (reported on May 27) marked the sixth consecutive quarter of at least 20% year-over-year (YoY) revenue growth, and it has beaten EPS estimates for five straight periods. Marvell’s fiscal Q2 2027 results are due in about 2 weeks, and analysts project record quarterly EPS at $0.92 and revenue at $2.7 billion.

The stock also got a new price target boost from Keybanc last month to $400, which represents nearly 100% upside from current market prices.

The upcoming earnings call might finally break the stalemate bulls and bears have had since the company’s previous conference call. Shares dipped below the 50-day moving average in early July as downward momentum gained steam, but this trend recently reversed as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) turned. Momentum is now trending up, and the 50-day moving average will be the key area to watch ahead of the August 27 earnings release.

Credo Technology Group Holdings Ltd. 

Benzinga Edge Growth Score: 99.63

Another fabless chip designer is Credo Technology (NASDAQ:CRDO), a $49.6 billion market cap firm that began trading publicly in early 2022. But most of the excitement has come in the last few years, with the stock up more than 700% since its March 2025 bottom. And as the numbers show, this isn’t just a hype-fueled rally.

Management reported fiscal 2026 revenue of more than $1.3 billion, more than tripling YoY with non-GAAP gross margins at 68.3%. Triple-digit growth with margin expansion shows true pricing power, which is why the company guided more than $600 million in fiscal 2027 from three combined segments: Optical DSPs, silicon photonics, and ZeroFlap Optics.

Each segment is expected to grow 80% YoY in fiscal 2027, with most of the growth occurring in the second half of the year.

CRDO shares appear on their way to another new all-time high ahead of the September 1 earnings call. The stock price has broken back above the 50-day moving average after bouncing off support at the 200-day, and the RSI has confirmed the momentum, soaring above 50 and now resting comfortably in an uptrend.

NVIDIA Corp. 

Benzinga Edge Growth Score: 99.15

It’s been a while since we’ve written about the stalwart semiconductor giant that seems to dictate the AI trend. And for good reason; it’s been a boring go for NVIDIA (NASDAQ:NVDA), which is up 23% in the last 12 months (trailing the S&P 500) and down more than 4% in the last three.

But revenue growth has started ramping up again in the last few quarters, growing double digits YoY in each of the last three periods. Fiscal Q1 2027 revenue grew 85% YoY, the highest rate since topping 93% in fiscal Q3 2025.

Management notes that hyperscalers account for approximately 50% of data center revenue, giving the company a broader client base across various industrial and enterprise sectors.

NVDA shares are once again approaching a new all-time high following a breakout over the 50-day moving average in early August. The 50-day had been acting as resistance since early June, so a move above this level ahead of the fiscal Q2 2027 report on August 26 is a very bullish signal. The RSI and MACD are also keeping their end of the bargain, and the NVDA chart shows strong upward momentum ahead of the key earnings call.

SiTime Corp. 

Benzinga Edge Growth Score: 98.64

Fabless semiconductor stocks dominate this list (sense a theme?) and the smallest and least well-known of the bunch might be SiTime Corp. (NASDAQ:SITM), which isn’t exactly "small" at $21 billion in market cap and $326 million in trailing 12-month sales.

However, the company might not be under the radar for much longer following a 98% YTD gain and a blowout Q2 2026 earnings report. The company posted quarterly EPS of $2.34 on August 5, a nearly 20% upside surprise that represented more than 125% YoY growth. Revenue growth nearly topped 400% YoY, and the two firms covering the stock, UBS and Needham, raised price targets to $840 and $900, respectively.

SITM shares are volatile with a beta of 2.94, meaning the stock is 294% more volatile than the S&P 500. SITM hit an all-time high of $900 in May before a nearly 50% haircut left shares at $462 by July 29. But bullish momentum is building again, as the stock has recaptured the 50-day moving average and turned it into support. The RSI complements the uptrend by trading comfortably in the bullish zone between 50 and 70, giving the stock both fundamental and technical strength heading into the last quarter of the year.

Lam Research Corp. 

Benzinga Edge Growth Score: 93.62

Outside of the fabless semiconductor box is Lam Research (NASDAQ:LRCX), a "picks and shovels" AI play that builds deposition and etch technology for wafer fabrication. The company’s market cap has grown to over $400 billion, and it counts major semiconductor and memory players as key clients, including TSMC, Samsung, and Micron.

In its fiscal Q4 2026 report from July 29, Lam Research reported 30% YoY revenue growth to $6.72 billion, with EPS growth over 35% YoY and gross margins reaching a multi-decade high at 52%. The key highlight was the Memory segment, which now drives 46% of systems revenue and saw NAND dollars double from the previous quarter.

Memory shortages aren’t going anywhere, and neither is the demand for Lam’s wafer fabrication tech. The stock bounced off the 200-day moving average after the July 29 conference call and is now again challenging the 50-day. And if you believe what the RSI and MACD are expressing, that resistance level at the 50-day is unlikely to hold as bullish momentum sets in.