Broadcom, Marvell Lift AI Outlooks as $22.2 Billion Quarter Highlights Scale Gap

3 articles · Updated · 24/7 Wall St. · Aug 20

$22.2 billion at Broadcom and $2.418 billion at Marvell underscored sharply different scale as both companies raised expectations for AI silicon and networking after earnings updates.
Broadcom's AI silicon revenue reached $10.8 billion, up 143% year on year, while bookings topped $30 billion on hyperscaler XPU and networking demand tied to Google, OpenAI and Meta programs.
Marvell's data center revenue hit $1.83 billion, or 76% of total sales, and its fiscal 2028 revenue outlook rose to about $16.5 billion on demand for 800G, 1.6T and photonic interconnect products.
The contrast is in business mix: Broadcom pairs custom AI chips with VMware's $7.2 billion, 93%-margin software cash flow, while Marvell is spending about $1 billion in supplier prepayments and acquisitions to expand capacity.
The next test comes over the next two quarters, with Broadcom targeting AI revenue above 200% growth to $16 billion next quarter and Marvell needing to execute on a new Tier 1 hyperscaler XPU program.