Broadcom and Marvell both beat AI estimates and raised guidance, but Broadcom operates at much larger scale, with AI semiconductor revenue of $16.70 billion, up 221% year over year and 56% of total revenue. Custom XPUs supplied 73% of its AI revenue, while gross margin slipped to 75% and operating margin reached 67.9%. Marvell reported $2.74 billion in revenue, up 36.5%, with data center sales at 79% of the total, and its Google deal includes a warrant for up to 7% of its shares. Broadcom guided to Q4 revenue of about $34.8 billion and AI revenue of about $21.7 billion, while Marvell guided to $3.15 billion and plans about $1 billion in supplier prepayments. Marvell is up 163.4% year to date, while Broadcom is down 6.09%.
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