Seaport Analyst Named Four Horsemen of AI

Analyst Jay Goldberg initiated coverage on four key semiconductor firms poised to power artificial intelligence growth.

Updated on Sept. 23, 2026 in Semiconductors

Isometric editorial illustration of a silicon microchip wafer, representing the semiconductor components driving artificial intelligence development. — Seaport analyst Jay Goldberg initiated coverage on four semiconductor firms, including ON Semiconductor and Marvell, citing their importance to AI infrastructure expansion. AI Illustration. Upload story photo >

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Seaport analyst Jay Goldberg has initiated coverage on Semtech, ON Semiconductor, SiTime, and Marvell Technology, identifying them as the "four horsemen" of the AI sector. He issued buy ratings for three of the firms while maintaining a neutral outlook on SiTime.

Why it matters

These companies are being highlighted for their role in satisfying the growing industry demand for AI-ready infrastructure. Each firm provides specialized components, ranging from data center networking chips to custom-chip business solutions, that are essential for large-scale AI deployment.

Semtech produces chips for GPU networking, while SiTime specializes in device synchronization. Marvell maintains a custom-chip business, and ON Semiconductor focuses on AI-integrated technology for smartphones and vehicles.

The players

Jay Goldberg

He is a market analyst at Seaport who evaluates semiconductor companies based on their integration into AI infrastructure.

Semtech

This company manufactures chips for networking connections and acquired Sierra Wireless in 2023.

ON Semiconductor

This firm develops chip products and physical AI technology for the automotive and smartphone industries.

SiTime

This organization manufactures precision timing components used for synchronization in various electronic devices.

Marvell Technology

This company specializes in a custom-chip business and competes directly with firms like Broadcom and Credo.

The details

Goldberg projects that ON Semiconductor will enhance its profitability through a shift toward real-world AI, while Marvell is expected to grow via its intellectual property in the custom market. Broadcom and Credo currently serve as primary competitors to Marvell Technology within the custom-chip space.

2023 marked the year Semtech completed its acquisition of Sierra Wireless.
September 22, 2026, was the date Seaport analyst Jay Goldberg issued the note initiating coverage.
September 23, 2026, saw stock prices for the four mentioned companies drop at the market open.

The Tech Race

This coverage highlights a strategic pivot toward AI-optimized hardware, replacing legacy component focus with custom-built solutions for high-performance data centers. It positions these firms in a direct competitive race against established industry giants for a share of the AI infrastructure market.

Investors may see short-term volatility in these stocks as the market reacts to the new analyst ratings. For the average consumer, these companies' advancements underpin the increasingly powerful AI capabilities found in modern smartphones and vehicles.

The takeaway

The categorization of these four firms underscores how critical specialized hardware components have become to the broader expansion of artificial intelligence. Investors and industry observers should watch how these companies manage the scaling of their data center market presence in the coming years.