Marvell Jumps 9% After Forecasting $2.7 Billion Q2 Revenue on AI Chip Demand
Updated
Updated · Bloomberg · May 27
Marvell Jumps 9% After Forecasting $2.7 Billion Q2 Revenue on AI Chip Demand
3 articles · Updated · Bloomberg · May 27
Marvell shares rose as much as 9% in late trading after the chipmaker projected about $2.7 billion in fiscal second-quarter revenue through July, above analysts’ roughly $2.6 billion estimate.
AI data-center demand drove the stronger outlook, with Marvell saying chips tied to that buildout lifted both revenue expectations and earnings guidance beyond Wall Street forecasts.
Management also raised its longer-range projections, signaling the company expects the AI spending wave to keep supporting growth beyond the current quarter.
Marvell’s AI chip demand is surging, but can the global power grid and supply chains actually support its ambitious growth?
With a $2B NVIDIA investment, is Marvell a key AI partner or just another supplier in NVIDIA's growing empire?