Companies
Marvell Technology Raises Fiscal 2028 Revenue Outlook to $20 Billion Amid AI Growth
Marvell Technology has announced a significant increase in its revenue outlook for fiscal 2028, now estimating about $20 billion, up from a previous forecast of $18 billion. This adjustment reflects the company's confidence in the growing AI market, which it projects will reach $400 billion by 2030.
During its recent Investor Day, CEO Matt Murphy highlighted that the majority of this revenue uplift is attributed to Marvell's connectivity products, including advanced optical signal processors. The company also reported impressive fiscal Q2 2027 results, with total quarterly revenue reaching $2.739 billion, a 37% increase year-over-year. Notably, data center revenue constituted 79% of this total, amounting to $2.17 billion, marking a 46% year-over-year growth.
Marvell anticipates that its data center revenue will continue to accelerate, projecting growth of over 60% for fiscal 2027. The company is also engaged in custom silicon programs with major clients such as Amazon, Alphabet, Microsoft, and Meta, positioning itself strongly within the AI infrastructure space.
Looking further ahead, Marvell has set an ambitious revenue target of between $70 billion and $90 billion for fiscal 2031, indicating a strategic focus on expanding its market presence in AI connectivity and optical solutions.
FAQ
What is Marvell Technology's updated revenue outlook for fiscal 2028?
Marvell Technology has raised its revenue outlook for fiscal 2028 to approximately $20 billion, up from a previous forecast of $18 billion.
What factors contributed to the increase in Marvell's revenue outlook?
The increase is primarily attributed to the growing AI market and the company's confidence in its connectivity products, including advanced optical signal processors.
What were Marvell's fiscal Q2 2027 results?
In fiscal Q2 2027, Marvell reported total quarterly revenue of $2.739 billion, which is a 37% increase year-over-year, with data center revenue making up 79% of this total.
What is Marvell's projection for data center revenue growth?
Marvell anticipates that its data center revenue will continue to accelerate, projecting growth of over 60% for fiscal 2027.
What are Marvell's long-term revenue targets?
Marvell has set an ambitious revenue target of between $70 billion and $90 billion for fiscal 2031, focusing on expanding its market presence in AI connectivity and optical solutions.