Marvell Emerges as Key AI Chip Contender, Surpasses $100B Valuation
Marvell Technology's shares surged 23% after reporting strong Q3 earnings driven by a significant increase in data-center sales, largely due to AI demand. The company's AI revenue is projected to exceed $1.5 billion this fiscal year and $2.5 billion by 2025. Marvell's data-center segment now accounts for 73% of its total revenue, up from 39% a year ago. The company has also partnered with Amazon Web Services to enhance its AI chip offerings, challenging Nvidia's market dominance.
