POET, MRVL, BE Stocks Hit 52-Week Highs Today: What Drove These AI Plays Higher?

• POET stock surged more than 20%, climbing to $11.09 during the day’s trading after CFO Thomas Mika dismissed Wolfpack Research’s report. 
• MRVL stock continued its upward rally for a third straight session, climbing to fresh highs amid optimism about its potential deal with Google and recent price target hikes. 
• BE stock was also on Wall Street analysts' radar, with price target hikes from UBS and Citi.

Shares of artificial intelligence-linked firms Poet Technologies (POET), Marvell Technology (MRVL), and Bloom Energy (BE) climbed to 52-week highs on Tuesday amid a slew of positive news from the companies and increasing Wall Street optimism.

POET stock surged more than 20%, climbing to an impressive $11.09 during the day’s trading. Meanwhile, MRVL stock climbed more than 2% to an intraday high of $154.95, while BE shares hit $234.35 in intraday trading on Tuesday before closing 1.2% higher.

POET CFO Dismisses Short-Seller Report

POET’s finance chief, Thomas Mika, dismissed Wolfpack Research’s report alleging the company could be a Passive Foreign Investment Company (PFIC) due to share dilution. In an exclusive interview with Stocktwits, Mika accused the firm of trying to induce anxiety among shareholders ahead of tax day.

Mika also confirmed to Stocktwits that the company had secured orders from Marvell Technology (MRVL), while it was still waiting to hear back from Foxconn and Luxshare about orders, adding that it expected “to hear back from at least one of those.”

On Stocktwits, retail sentiment around POET stock was in the ‘extremely bullish’ territory at the time of writing, amid ‘extremely high’ message volumes. POET shares have surged more than 43% this year.

Marvell Gets Wall Street Thumbs Up

MRVL stock continued its upward rally for a third straight session, climbing to fresh highs over optimism around its potential deal with Alphabet Inc.’s (GOOG, GOOGL) Google to design chips for its AI model execution.

The stock also received an upward revision in its price target from RBC Capital. The firm raised its price target on Marvell to $170 from $115 and kept an ‘Outperform’ rating on the stock, citing broader implications of the Amazon (AMZN) and Anthropic’s deal, noting that it would be a material positive for AWS suppliers.

Meanwhile, retail sentiment around MRVL stock was in the ‘extremely bullish’ territory over 24 hours amid ‘extremely high’ message volumes. The company's shares have gained more than 69% this year.

Bloom Rises On AI Optimism

BE stock was also on Wall Street analysts' radar. The company’s shares climbed higher after receiving two price target hikes.

UBS analyst Manav Gupta raised the price target on the company to $251 from $170 and kept a ‘Buy’ rating on the shares, saying that the shift toward 800 VDC power architectures in data centers was an indicator of rising AI demand and high-density computing power, which could potentially create opportunities for BE’s technologies. Citi analyst Vikram Bagri also raised the price target on Bloom Energy to $229 from $162 and kept a ‘Neutral’ rating on the shares.

On Stocktwits, retail sentiment around BE stock was in the ‘neutral’ territory amid ‘normal’ message volumes at the time of writing. The company's shares have gained more than 123% this year.

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