Updated version 2 - Driven by strong demand from artificial intelligence data centers, Marvell raises its revenue forecast for 2028.
路透社2026/10/06 14:56The fiscal year 2028 revenue forecast has been raised from $18 billion to approximately $20 billion. Revenue for fiscal year 2031 is now expected to reach between $70 billion and $90 billion, exceeding previous expectations. If targets are met, the deal signed with Google in August could generate up to $120 billion in revenue before fiscal year 2033. The full article provides detailed information and background. Reuters, October 6 – On Tuesday, Marvell Technology (MRVL.O) raised its fiscal 2028 revenue forecast to around $20 billion, surpassing Wall Street's expectations, thanks to growing demand for its custom data center chips and surging artificial intelligence (AI) spending. The company's shares rose about 7%, while competitor Broadcom (AVGO.O) saw its stock rise about 4% in early trading. Marvell had outlined a strategy focused on custom and cloud-optimized chips (specially designed for data centers) at its 2021 Investor Day. Since then, the company has become one of the main beneficiaries of the AI infrastructure boom. As tech firms develop proprietary AI processors to reduce reliance on Nvidia (NVDA.O) chips, Marvell’s custom chip business has become a primary growth driver. This year, Marvell's stock price has more than tripled. In August, Marvell disclosed an agreement with Alphabet's Google (GOOGL.O) which, if certain milestones are achieved, could generate up to $120 billion in sales by fiscal year 2033. That same month, the company raised its full-year revenue forecast from $16.5 billion to around $18 billion. On Tuesday, Marvell forecasted fiscal year 2031 revenue to be between $70 billion and $90 billion. According to Visible Alpha’s survey of four analysts, the midpoint of that range—$80 billion—exceeds Wall Street’s previous expectation of $46.85 billion. According to data compiled by the London Stock Exchange Group (LSEG), analysts had previously expected 2028 revenue to be $18.2 billion. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Because machine translation may contain errors or lack the required context, Reuters does not guarantee the accuracy of automated translated text and provides it solely for readers’ convenience. Reuters is not liable for any damage or loss arising from the use of automated translation.)
The article has been supplemented with detailed information and background.
Reuters, October 6 - Marvell Technology MRVL.O on Tuesday raised its fiscal 2028 revenue outlook to approximately $20 billion, surpassing Wall Street estimates, driven by growing demand for its custom data center chips and soaring artificial intelligence (AI) spending.
The company's stock price rose about 7%, while rival Broadcom (AVGO.O) saw its shares climb about 4% in early trading.
Marvell Technology outlined a strategy centered on custom and cloud-optimized chips (specifically designed for data centers) during its 2021 investor day. Since then, the company has become one of the biggest beneficiaries of the AI infrastructure boom.
As tech firms develop their own AI processors to reduce reliance on Nvidia (NVDA.O) chips, Marvell’s custom chip business has become a key growth driver. Year to date, shares of the chipmaker have more than tripled.
In August, Marvell Technology disclosed an agreement with Google, a unit of Alphabet GOOGL.O. If performance milestones are achieved, the agreement could generate up to $120 billion in sales during the period through fiscal year 2033.
That same month, the company raised its full-year revenue forecast from $16.5 billion to about $18 billion.
On Tuesday, Marvell Technology forecast revenue for fiscal year 2031 at between $70 billion and $90 billion. According to Visible Alpha’s survey of four analysts, the midpoint of this range—$80 billion—exceeds Wall Street’s estimate of $46.85 billion.
Based on data compiled by London Stock Exchange Group (LSEG), analysts had previously projected revenue of $18.2 billion for 2028.
(To facilitate non-native English speakers, Reuters automates the translation of its reports into several other languages. Automated translation may contain errors or lack necessary context; Reuters does not guarantee the accuracy of the automated translation and provides it solely for reader convenience. Reuters bears no responsibility for any damage or loss arising from the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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