Marvell Technology (MRVL) reported approximately $1.9 billion in revenues for Q1 of fiscal 2026, marking a 63% year-over-year increase driven by strong demand in the Data Center market. The company anticipates Q2 revenues of around $2.0 billion (+/- 5%), which would represent a 57.4% year-over-year growth and a 5.5% sequential increase. A key catalyst for this growth is the rising demand for AI-driven custom silicon.
The Data Center segment experienced a significant 76% increase in revenues year-over-year, fueled by adoption of custom AI silicon chips, which are now the largest component of Marvell’s data center business. With continued investment in custom silicon production and the introduction of advanced packaging technology, Marvell is well-positioned to capitalize on the burgeoning AI market.
In comparison, Broadcom (AVGO) reported $4.4 billion in AI-related semiconductor revenue in Q2 of fiscal 2025, reflecting 46% year-over-year growth, while Advanced Micro Devices (AMD) generated $3.7 billion from its Data Center segment in Q1 of fiscal 2025, also a 57% increase. Marvell’s shares have decreased 37.5% year-to-date, despite the semiconductor industry’s average growth of 3.4%.
