<div id="readability-page-1">March 5 : Marvell Technology forecast fiscal 2028 revenue above Wall Street estimates on Thursday, signaling robust demand for custom chips and interconnect solutions used in artificial intelligence data centers, sending its shares surging 15 per cent in extended trading. Growing adoption of AI tools has boosted demand for specialized chips such as Marvell's custom application-specific integrated circuits used in advanced data centers, as well as its interconnect technologies that enable high-speed data transfer between processors, memory and servers. Big Tech firms including Alphabet, Microsoft, Amazon and Meta are expected to spend at least $630 billion to build AI infrastructure this year, lifting demand for chips used in servers and networking equipment from companies such as Marvell. Marvell expects revenue to grow nearly 40 per cent and approach $15 billion in fiscal 2028, above analysts' average estimate of $12.92 billion, according to data compiled by LSEG. The company also raised its fiscal 2027 revenue forecast to grow more than 30 per cent year over year, nearing $11 billion, compared with its earlier expectations of about $10 billion revenue. It expects revenue of around $2.40 billion, plus or minus 5 per cent, for the first quarter, above estimates of $2.27 billion. The company said the quarterly forecast includes expected results of Celestial AI and XConn Technologies. Marvell divested its automotive ethernet business last year and completed the acquisition of Celestial AI in a deal worth $3.25 billion, doubling down on photonic fabrics, a technology that uses light rather than electrical signals to connect AI chips and memory chips. &#34;We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace,&#34; CEO Matt Murphy said in a statement. Marvell and rival Broadcom help cloud-computing companies design custom chips tailored to their data-center workloads, a fast-growing business as hyperscalers seek alternatives to Nvidia's general-purpose AI processors. &#34;Marvell's shares like many AI-related names have underperformed the semiconductor group in the past two quarters. We think the better-than-expected results and outlook, while expected, is more of a relief for investors than confirming the near-term data center spending strength,&#34; said Kinngai Chan, senior research analyst at Summit Insights. Broadcom on Wednesday said it expected over $100 billion in AI chip sales next year, signaling rapid share gains in a market dominated by Nvidia, which last month reported better-than-expected results for the January quarter. For the fourth quarter, Marvell reported a 22 per cent increase in revenue to $2.22 billion, slightly above estimates of $2.21 billion. Adjusted earnings per share of 80 cents beat estimates of 79 cents. Revenue in the data center segment, its largest business, rose 21 per cent to $1.65 billion, compared with estimates of $1.64 billion.</div>

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<p>Marvell Technology forecasts strong fiscal 2028 revenue, projecting nearly 40% growth to around $15 billion, driven by demand for AI-related chips. Shares surged 15% after the announcement. The company also raised its fiscal 2027 revenue forecast to nearly $11 billion. Marvell's data center revenue rose 21% to $1.65 billion in Q4, slightly above estimates. CEO Matt Murphy highlighted ongoing strength in the data center business, while analysts noted the results provide relief for investors amid competitive pressures in the AI chip market.</p>

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Marvell projects strong fiscal 2028 revenue on AI-driven data center boom, shares jump