Marvell Technology's stock fell 7% despite reporting record Data Center revenue and raising its fiscal 2027 and 2028 outlooks. The decline is due to the timing of a large AI deal with Google, which will deliver significant revenue starting in fiscal 2029, later than investors expected. Marvell's expanded agreement with Google involves custom AI silicon products tied to Google's TPU ecosystem, with potential revenue reaching $120 billion over six years. The company also forecasted a slight margin decline in the near term due to lower-margin custom AI products. Investors will closely watch Marvell's Investor Day in October for more details on the long-term revenue outlook and Google-related milestones.
Marvell Technology reported record quarterly revenue of $2.74 billion, a 37% increase year over year, driven mainly by its Data Center business. Non-GAAP EPS rose 40% to $0.94, and the company raised its fiscal 2027 and 2028 revenue forecasts to $12 ...
Marvell Technology is rapidly growing by providing essential AI infrastructure components, posting a 46% year-over-year increase in data center revenue in Q2 FY2027. The company projects continued revenue growth, targeting $11.5 billion in FY2027 and...
Marvell Technology's shares fell 8% in premarket trading after its fiscal 2028 revenue outlook, projecting about 50% growth to $18 billion, fell short of investor expectations fueled by a recent Google partnership. The chipmaker reported a 37% year-o...
Marvell Technology reported Q2 earnings and revenue above Wall Street expectations, with data center revenue up 46% year-over-year to $2.17 billion, driven by robust AI-related bookings. Despite this, shares fell 8% in premarket trading as investors ...
Marvell Technology reported a strong Q2 with revenue up 37% year-over-year and slight beats on revenue and earnings per share. The data center segment grew 46% YoY, driven by demand for AI and custom ASICs, with management forecasting over 60% growth...
