Marvell Credits 241% Stock Surge to AI Trust, Winning Google and Nvidia Ties
Updated
Updated · CNBC · Sep 8
Marvell Credits 241% Stock Surge to AI Trust, Winning Google and Nvidia Ties
1 articles · Updated · CNBC · Sep 8
Summary
241% share gains over the past 12 months stem from a decade spent building trust with hyperscalers, CEO Matt Murphy said, arguing customers now prize reliable delivery of complex chips at scale.
Major AI ties helped turn that trust into growth: Marvell partnered with Nvidia in March and signed a multi-year supply agreement with Google in August, a notable win against Broadcom.
All four major U.S. hyperscalers now buy Marvell custom silicon, Murphy said, while its optical connectivity products sell across the industry, letting the company avoid reliance on one customer or architecture.
60% data-center revenue growth is projected for fiscal 2027, rising to 61% in fiscal 2028, even as Amazon's new Qualcomm partnership underscores intensifying competition for hyperscaler chip spending.
Early October could be the next catalyst, with investors looking for updated long-term financial targets at Marvell's investor day.