News about Marvell

GF Securities says one part of Google's TPU v9 design slipped about three weeks, likely due to a redesign, pushing the timeline back roughly a quarter, with mass production now expected in Q2 2027. Packaging substrate yields of just 45% to 50% are a key obstacle, but GF sees no demand problem, citing strong TPU demand from Google and external customers such as Anthropic. The firm points to MediaTek, not Marvell (MRVL), as facing short-term headwinds, so any benefit to Marvell appears indirect. At 63x forward earnings, a 66% premium to its five-year average P/E of 38.02x, the article concludes the delay is not by itself a reason to buy.

Broadcom (AVGO) and Marvell (MRVL) both reported strong AI results this summer as hyperscalers increasingly want chips designed around their own models. Broadcom's AI semiconductor revenue reached $16.70 billion, up 221% year over year, with XPUs making up 73% of AI revenue, and it expects AI revenue of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Marvell's data center revenue rose 46% to $2.17 billion, driven by connectivity such as optical DSPs and switching, and management expects its custom business to more than double in fiscal 2028. The article flags Broadcom's customer concentration and supply bottlenecks as key risks, while Broadcom is down 4.49% year to date and Marvell is up 168.54%.