OpenAI’s reported push to raise up to US$30b at a roughly US$1.25t valuation has turned AI compute into the arena where private money, national ambition and investor expectations collide. With public access to OpenAI itself likely on hold, capital often looks for listed proxies that touch GPUs, data centers and power. This article walks through three stocks exposed to that story and how this funding ripple might matter to your portfolio thinking.
The three stocks discussed below are only a first pass on the AI compute theme. The full screen on Simply Wall St surfaced 59 more large caps with equally compelling narratives that do not fit into this short article. To go further than this sample set, head straight into the Global Large-Cap AI Compute Infrastructure Suppliers screener to identify, analyze and focus on the AI infrastructure opportunities that best match your own conviction and risk profile.
Marvell Technology (MRVL)
Marvell Technology is one of the clearest ways to get exposure to the plumbing of AI compute, wiring GPUs and accelerators together inside hyperscale data centers rather than chasing the headline model providers themselves.
"The optical interconnect business is the more stable growth engine: management guided interconnect at 50%+ YoY growth in FY2027, well above the ASIC segment's 20%+ guide. Optical is the thesis, not ASIC alone."
What happens to Marvell’s margins and AI leverage if a single large customer decision upends the current mix between custom chips and connectivity?
That single customer swing is exactly what the full narrative for Marvell Technology unpacks, including how Marvell Technology’s AI optics story could decouple from ASIC risk.
Arista Networks (ANET)
Arista Networks is one of the clearest AI compute infrastructure plays in this screen, wiring together GPU rich data centers with high speed Ethernet switches and software that sit directly in the path of AI training and inference traffic.
Arista Networks develops data driven networking gear and software that connect cloud and AI data centers, generating about US$10.5b from computer networks and carrying a market value around US$232.5b.
"Accelerated adoption of AI and machine learning workloads continues to increase demand for high-bandwidth, low-latency networking infrastructure, and Arista Networks is now guiding AI fabrics revenue of at least US$3.5b to US$3.6b in 2026 with Etherlink already used by more than 100 customers. This could support multi-year revenue growth and earnings expansion."
What that ultimately means for Arista Networks’ earnings power hinges on how a single pressure on future AI networking demand gets resolved.
That hinge point is exactly what the full narrative for Arista Networks unpacks, explaining how Arista Networks’ AI fabrics story may either accelerate or stall as demand patterns shift.
Intel (INTC)
Intel is the purest large cap in this screen that mixes AI data center chips with the heavy manufacturing needed to build that compute backbone, pulling together PC processors, accelerators and foundry services into one vertically integrated story.
Intel generates about US$33.3b from Client Computing and Physical AI products, US$20.2b from Data Center and AI, and US$19.9b from Intel Foundry, with a market value near US$488.5b.
"The ramp of leading edge nodes such as 18A and the planned 14A high volume manufacturing in 2028, alongside growing EMIB T advanced packaging and design services for ASICs, aligns Intel’s large capital program with AI driven demand signals and can influence long term revenue and corporate gross margins."
What those AI ready fabs ultimately mean for Intel’s earnings power will hinge on how one unseen pressure on utilization plays out.
That utilization question is exactly what the full narrative for Intel tackles, separating short term noise from how Intel’s AI fabs could reshape its long run earnings mix.
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