Marvell says its data center chip business will hit $18 billion by 2028

Marvell says its data center chip business will hit $18 billion by 2028

Marvell Technology's data center revenue jumped 46% year over year to $2.17 billion in fiscal Q2 2027, and the company raised its fiscal 2028 revenue target to roughly $18 billion. CEO Matthew Murphy said custom silicon growth, including an expanded Google deal with an equity warrant attached, is now exceeding the company's own expectations.

Marvell Shares Drop 10.3%, Wiping Out $22 Billion After Google AI Revenue Delayed Beyond 2029

SANTA CLARA, California, August 30, 2026, 09:42 (EDT) Marvell stock ended Friday at $216.62, falling 10.28%, even as the company reported its highest-ever quarterly revenue. Data-center sales totaled $2.17 billion, accounting for 79% of revenue, and increased 46% from a year earlier. Significant revenue from Marvell’s custom-chip project with Google is now expected mainly in…