Marvell Technology announced a strategic plan to scale its custom silicon revenue from $1.5 billion in fiscal year 2026 to approximately $30 billion by fiscal year 2031. This target is part of a broader company forecast, which projects total annual revenue between $70 billion and $90 billion by the same period.
The growth strategy focuses on two segments: custom XPU AI accelerators and XPU attach components, such as networking and storage chips. The company expects the XPU attach business to generate $15 billion in revenue by fiscal year 2031, balancing it with standalone accelerator sales.
Marvell currently supplies custom silicon to four major US hyperscalers, holding over 35 sockets. A key component of this growth is a commercial agreement with Google, signed on July 29, 2026, which covers accelerators and memory controllers for the TPU ecosystem and could reach a value of $120 billion through fiscal year 2033.
Beyond custom chips, the company identified a total addressable market for interconnect and optics estimated at $400 billion by calendar 2030. While Wall Street responded with stock price increases, analysts noted risks related to high company valuation and heavy reliance on existing customer programs.
