Marvell Reports Record Q2 Revenue and Raises Fiscal Year Guidance
Marvell Technology reported record second-quarter fiscal 2027 revenue of $2.74 billion, driven by strong demand for its AI data center chips. The company raised its annual outlook for the second consecutive quarter, forecasting third-quarter revenue of $3.15 billion and adjusted earnings per share (EPS) of $1.10. These results exceeded analyst expectations of $3.03 billion in revenue and $1.07 EPS. Data center revenue surged 46% year-over-year to account for nearly 80% of total net revenue, while communications and other markets also saw growth. Marvell's CEO highlighted robust AI-related bookings and broad-based strength across its data center portfolio, particularly in connectivity and custom silicon solutions. The company is benefiting from hyperscalers shifting away from Nvidia’s processors to build proprietary chips for inference workloads, which are better suited than commodity options. Marvell will host an investor day on October 6, where it plans to outline its long-term AI infrastructure strategy.
Topics: AI chips data center revenue guidance update semiconductors