Marvell Technology and Broadcom Compare in AI Market
Marvell Technology (NASDAQ: MRVL) has seen its stock nearly triple in value this year, while Broadcom (NASDAQ: AVGO) has only risen by 13%. Both companies are key players in the custom AI chip market, controlling 95% of this space, with Broadcom holding a 60% market share. Marvell anticipates a 40% revenue increase in fiscal 2027, reaching $11.5 billion, and a 45% increase in fiscal 2028 to $16.5 billion. Conversely, Broadcom forecasts a jump of 3x in AI revenue this quarter to $16 billion, with expectations of exceeding $100 billion in AI revenue in fiscal 2027.
For context, Broadcom’s AI revenue surged by 143% year-over-year in Q2 of fiscal 2026, yielding $19.2 billion in the first half of the year. Analysts project that Broadcom’s earnings will grow by 71% this fiscal year, surpassing Marvell’s expected 42% increase. Despite its recent struggles, Broadcom’s growth rate and outlook now appear superior, suggesting it may present a more attractive investment opportunity than Marvell.
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