NVIDIA Stock And 2 AI Hardware Picks With Pricing Power In Higher Inflation

Tariffs are now feeding directly into consumer prices, AI hardware is adding fresh fuel to inflation, and interest rates look pinned higher for longer. That mix is reshaping which US-listed semiconductor and hardware stocks feel more pressure and which find extra pricing support. This article walks through 3 stocks exposed to these tariff and AI trends, so you can decide which stories deserve a closer look on your watchlist.

The three stocks below are just a starting sample and the full screen surfaced 38 more US-listed semiconductor and hardware companies with similarly detailed stories that are not covered here. If you want to go straight to the broader opportunity set, use the AI Hardware and Semiconductor Beneficiaries screener to identify, filter and analyze the AI hardware beneficiaries that best fit your own thesis.

Marvell Technology (MRVL)

Marvell Technology designs data infrastructure chips that help move and process data across AI data centers, cloud networks and storage systems, which fits neatly with the screener’s focus on US-listed hardware tied to AI servers and connectivity. Its portfolio ranges from custom accelerators and processors to high speed optical interconnects and CXL switches used from the data center core to the network edge. The company’s market cap is about US$211.7b, putting it firmly in the large cap tier of AI hardware beneficiaries.

Investors looking at AI hardware often focus on headline GPU producers and miss companies like Marvell Technology that supply the connective tissue that lets those AI clusters actually work. The company is tightly linked to AI data center spending through custom silicon and high speed interconnects. Recent tariff and inflation trends have shown it can pass higher input costs through when needed. At the same time, the stock’s size and strong AI exposure come with questions about valuation, funding sensitivity if rates stay higher for longer, and how concentrated it is in a few large cloud customers. That mix of powerful drivers and clear pressure points makes Marvell a story that some investors may choose to watch more closely beyond the AI buzzwords.

Marvell Technology’s AI connectivity story is powerful, yet the real question is how its size, tariffs and big cloud customer exposure fit together. Get the full picture in the 3 key rewards and 2 important warning signs (1 is major!)

NVIDIA (NVDA)

NVIDIA is the clearest example of what this AI hardware screener is looking for, since its GPUs and data center platforms are directly tied to AI servers and accelerator demand. The company operates two main segments, with Compute & Networking generating about US$275.4b of revenue and Graphics contributing roughly US$27.6b, highlighting how skewed the business is toward AI infrastructure rather than consumer GPUs. With a market cap of around US$5,505.0b, NVIDIA is one of the largest listed companies globally, which matters for investors thinking about how AI hardware pricing power interacts with higher inflation and interest rates.

For investors watching how AI hardware pricing is feeding into inflation, NVIDIA is where those themes meet real scale. The company earns most of its revenue from data center compute and networking, with a growing ecosystem of cloud providers, sovereign AI projects and financing partners lining up to secure access to its GPUs. That gives NVIDIA clear pricing power, but also raises questions about how much customers can keep spending if financing costs stay elevated and regulators keep a close eye on AI and energy use. If you want a closer look at how that trade off between opportunity and pressure might play out, NVIDIA is hard to ignore in this screener’s results.

NVIDIA’s AI momentum is massive, yet the real story is how revenue mix, pricing power and regulation risk fit together. Get the full breakdown in the analysis report for NVIDIA

Lam Research (LRCX)

Lam Research supplies the wafer fabrication tools that chip makers need to produce advanced logic and memory devices for AI servers, which fits neatly with a screener focused on AI hardware and semiconductor beneficiaries. The company generates about US$23.2b of revenue from manufacturing and servicing wafer processing equipment, spanning deposition, etch and cleaning systems that are critical for cutting edge chips. With a market cap of roughly US$398.6b, Lam Research is a large cap equipment supplier closely tied to global semiconductor capex plans.

Lam Research is worth a closer look if you care about the picks and shovels behind AI hardware rather than the headline chip brands. Its etch and deposition tools are central to gate all around logic, 3D NAND and advanced packaging that support AI workloads, and the company is investing more than US$3b in new labs to speed up AI focused process development. At the same time, exposure to China, tariff headwinds and reliance on a small group of big chip makers mean higher for longer rates and policy shifts could affect orders and margins. The tension between those AI driven capex tailwinds and very real geopolitical and valuation risks is where the more interesting questions start for investors.

Lam Research’s AI capex story is accelerating, but many investors still treat its tools like a simple proxy for chip cycles. Read the 3 key rewards and 2 important warning signs (1 is major!) to see what that misses and why one risk could matter more than it appears.

Seeking Alternatives Beyond AI Giants?

Fresh stock ideas can move from quiet accumulation to full breakout while most investors are still caught looking back. Scan these curated lists before the crowd and consider them for your research.

• Identify cash rich operators with sturdy fundamentals by running your filters through the list of solid balance sheet and fundamentals (51 results).
• Explore potential breakout trends in digital assets infrastructure while they may still be under the radar by checking the 19 cryptocurrency and blockchain stocks.
• Review strong income opportunities that may keep paying even when sentiment drops by using the curated 12 dividend fortresses.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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