Marvell Technology, a US chipmaker, said on August 27 that it expects third-quarter revenue of US$3.15 billion, plus or minus 5%, and adjusted earnings of US$1.10 per share, plus or minus 5 cents.

Both figures were above Wall Street estimates, reflecting strong demand for its products used in AI data centers.

Second-quarter revenue rose 37% year on year to US$2.74 billion, while adjusted earnings came in at 94 cents per share, also ahead of estimates.

Marvell’s shares fell more than 1% in extended trading after the results.

The outlook follows Marvell’s recent custom chip deal with Google.

The deal could generate US$120 billion in revenue through fiscal 2033 and includes a stock warrant that could give Google a stake worth up to US$12.2 billion, making Alphabet one of Marvell’s biggest investors.

🔗 Source: Reuters

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