Marvell Technology has raised its revenue forecast for fiscal 2028 to approximately $20 billion. This follows previous estimates of $16.5 billion and $18 billion. For the current fiscal year 2027, the company anticipates revenue of roughly $12 billion, marking a 45% year-over-year increase.
Data center operations remain the primary revenue driver, accounting for 79% of the total quarterly revenue of $2.739 billion in fiscal Q2 2027. This segment grew by 46% compared to the previous year, and the company expects growth to exceed 60% for the full fiscal year 2027.
CEO Matt Murphy attributes the upward revision primarily to connectivity products, including 1.6T optical signal processors and scale-up optics. The company estimates the total AI market will reach $400 billion by 2030, with connectivity solutions playing a central role in this expansion.
The company maintains custom silicon partnerships with Amazon, Alphabet, Microsoft, and Meta. A multi-year agreement with Google involves up to 58.97 million shares and could reach a value of $120 billion by fiscal 2033, provided specific milestones are achieved. Significant impact from this deal is expected starting in fiscal 2029.
