United States · Business news · AI & Tech · 06 Oct 2026
AI: Chips and hardware · Cloud and data centres · Alphabet (Google) · Broadcom — more AI news
At its investor day on October 6, chip designer Marvell Technology raised its revenue forecast for fiscal 2028 to about $20 billion, above the $18.2 billion analysts had pencilled in. It now projects $12 billion of custom-chip revenue in fiscal 2029, up from a $10 billion goal, and $70-90 billion of total revenue in fiscal 2031, against an analyst estimate of $46.85 billion. Marvell also disclosed a partnership with Google that could be worth up to $120 billion through fiscal 2033 if milestones are met. Its shares were up about 6% and Broadcom's about 4% at the time of the report.
The money comes from cloud companies designing their own AI processors instead of buying only Nvidia's: Marvell and Broadcom are the two main design partners, and data centres already bring in 72% of Marvell's sales. A Google arrangement of up to $120 billion through fiscal 2033 is conditional on performance milestones, so it is a ceiling and not booked revenue. The fiscal 2031 midpoint of $80 billion is far above the $46.85 billion analysts had modelled, which means the targets rest on hyperscaler capital spending staying at today's pace for five more years.
Reported by MarketScreener — “Marvell raises 2028 revenue forecast on strong AI data center demand” ↗ on 06 Oct 2026.
Official series on 06 Oct 2026 or the last day before it, and the latest observation.
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