Marvell raises 2028 revenue forecast to $20 bln on AI data center demand
Marvell Technology Inc. raised its 2028 revenue forecast to about $20 billion, citing strong demand for its chips used in data centers. The company had forecast $18 billion in revenue in August. Analysts were expecting revenue of $18.2 billion.
(Adds details) Oct 6 (Reuters) — Marvell raised its 2028 revenue forecast to about $20 billion on Tuesday, citing strong demand for its chips used in data centers. Shares of the company rose nearly 9% in early trading. The stock has more than tripled in value so far this year. Marvell had forecast $18 billion in revenue in August.
2 billion, according to data compiled. com; +91 9916364306)