TECH - Marvell Tech Set for Major Growth with AI Accelerators for Amazon Google and Potential Microsoft Deal: Analysts | Benzinga
Needham analyst Quinn Bolton reiterated a Buy rating on Marvell Technology Inc (NASDAQ:MRVL) with a price target of $95.
On Thursday, Marvell hosted its Accelerated Infrastructure for the AI Era Event, at which it laid out its Data Center expectations and growth drivers. Growth opportunities include custom computing, cloud optics, AEC DSPs, silicon photonics (SiPho), and Ethernet switching.
Marvell’s key announcements included the company’s third North American hyperscaler customer for custom silicon, likely to generate more revenue than its first two hyperscaler customers combined, expectations for AI revenue to exceed $1.5 billion and $2.5 billion in fiscal 2025 and fiscal 2026, respectively, and an updated Data Center TAM that will exceed $75 billion in 2028 with Marvell’s goal to secure 20% share of this TAM long-term.
Should the company achieve ...