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FollowingMarvell raised its revenue forecast for fiscal 2028 to approximately US$20 billion, exceeding Wall Street expectations.
As demand for custom silicon chips, network equipment and data center infrastructure accelerates, Marvell (Maiwell Technology) raised its revenue outlook for fiscal 2028 to approximately US$20 billion, which is higher than Wall Street analysts 'expectations. Marvell disclosed the expansion of its partnership with Google in a filing with the Securities and Exchange Commission, which covers customized products related to Google's TPU ecosystem, including inference accelerators, network controllers, and near-memory computing devices.
Google may become an important major customer of Marvell
In this long-term deal, the most attractive figure is US$120 billion. If predetermined performance goals are met, Marvell's expanded cooperation agreement with Google is expected to generate cumulative sales of up to US$120 billion in the period ending in fiscal year 2033. In addition, Google also obtained warrants to purchase nearly 59 million shares of Marvell stock at $206.58 per share, which closely tied some terms of the deal to Marvell's future execution performance.
Coinpaper has previously pointed out that while the largest revenue contribution is expected to come later in the decade, Google transactions have become a core factor in Marvell's valuation. The new forecast provides investors with a clearer picture of opportunities: Marvell now expects its custom silicon chip revenue to reach $12 billion by fiscal 2029, up from its previous target of $10 billion.
Custom chips are becoming Nvidia's main alternative
This broader shift is increasingly important to the AI semiconductor market. Hyperscale cloud vendors such as Google, Meta, and Amazon are developing proprietary accelerators that are optimized for specific workloads, especially reasoning tasks. This creates opportunities for vendors such as Marvell and Broadcom to capture spending that might otherwise have gone to GM Nvidia GPUs.
Marvell's data center revenue in its latest quarter was approximately US$2.17 billion, a year-on-year increase of 46%, with the segment accounting for nearly 80% of total sales. Its latest financial report shows the speed at which the company has rapidly transformed into an AI infrastructure company. At the same time, competition in this field is becoming increasingly fierce. Broadcom expects its AI semiconductor revenue to reach approximately $115 billion in 2027 and $230 billion in 2028.
