News about Marvell Technology

Marvell Technology is deeply involved in AI infrastructure through optical chips, ASICs, data storage controllers and CXL memory products, and Nvidia CEO Jensen Huang said in June he expects it to become a $1 trillion company. In its fiscal 2027 second quarter, revenue rose 37% year over year to $2.74 billion, and the company expanded its AI chip deal with Alphabet to $120 billion over roughly six and a half years, starting in fiscal 2029. The stock is not cheap, trading at a forward P/E ratio of 62, while Broadcom and Nvidia offer cheaper valuations and higher revenue growth. The article says the Alphabet deal could add roughly $5 billion in quarterly sales once it starts, nearly two times Marvell's Q2 fiscal 2027 revenue, so a single large contract could change the investment case.