Marvell Technology Raises Revenue Outlook Amid Growing Demand for Custom AI Chips
Marvell Technology (MRVL) is positioning itself as a primary beneficiary of the shift toward custom artificial intelligence infrastructure. The company has significantly raised its fiscal 2028 revenue guidance to approximately $20 billion, up from an earlier estimate of $18 billion. This growth trajectory is driven by increasing demand for application-specific integrated circuits (ASICs) and advanced data center networking technologies used by major tech firms. Management has set ambitious long-term targets, aiming for annual revenue between $70 billion and $90 billion by fiscal 2031. If these projections are met alongside an estimated $30 in adjusted earnings per share, the company could see substantial valuation expansion. While competition from Broadcom (AVGO) remains a factor, Marvell's data center business has already become its largest revenue contributor.
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Topics: AI Infrastructure Custom Chips Data Center Networking Revenue Guidance