AI Tech Boom: Software Giants Steal the Show

After a long wait, a top tech fund manager is spotlighting his favorite picks in the tech sector. Tony Wang, the wizard behind T. Rowe Price's science and technology strategy, sees a thrilling shift happening. He believes companies are now focusing more on software and app developers who are busy launching and integrating AI products. This change in focus comes after a two-year spree where businesses were heavily investing in semiconductors and infrastructure to support the growth of AI tools. Wang has his eye on some key players. Nvidia and Marvell Technology are on his radar for their long-term potential in AI. Marvell, in particular, has a bright future thanks to its custom chip products that cater to bigwigs like Amazon. Wang also praises Marvell's CEO for being smart with money. While the big shots, like the "Magnificent Seven, " will keep leading with their data access and deep pockets, Wang expects new winners to emerge. He's keeping a close eye on Palantir and Applovin. Applovin's digital advertising strength and sharp execution are big reasons why Wang likes this stock. Applovin had a fantastic week, jumping 77% after a great earnings report, and its shares are up over 590% this year. Wang thinks these stocks have made big moves recently because of their AI data flywheel effect. He reminds us that tech trends often grow fast, and sometimes people underestimate these shifts.