Marvell's stock jumps on AI chip outlook, adding $10B value
Business
Marvell Technology's stock rose nearly 11% in early trading on Friday after the company shared a strong outlook for its custom AI chips.
This surge could add over $10 billion to Marvell's market value and comes right after Broadcom predicted more than $100 billion in AI chip sales next year, showing that the AI boom isn't just about NVIDIA anymore.
Marvell's edge in AI infrastructure investment
Marvell is focusing on making faster connections between chips in cloud systems, which gives it an edge as tech giants like Alphabet, Meta, Microsoft, and Amazon pour money into AI infrastructure.
The company expects revenue to hit $15 billion by 2028 (nearly 40% growth), and its data center business just saw a 21% boost thanks to rising demand for its custom chips and high-speed tech.