Marvell expects total revenue to reach $70 billion to $90 billion by FY31, supported by a $2 billion investment from Nvidia and a six year $120 billion deal with Google. Following the announcements, shares extended a rally to gain 9.1% in premarket trading, their highest level since June 30.
Tuesday, October 20, 2026
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Marvell Shares Jump 9% on $400B AI Market Projection
Earnings15 days ago
The chipmaker raised its total revenue forecast for fiscal year 2028 to approximately $20 billion, up from prior estimates of $15 billion to $18 billion. CEO Matt Murphy presented the updated targets during the company's Investor Day on Oct 6, where he also projected a total addressable AI market of $400 billion by 2030. This new figure is more than four times the $94 billion opportunity the company previously estimated for 2028.
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