Marvell Technology raises long-term revenue target, demonstrating AI infrastructure demand
MRVL Marvell Technology Inc
$287.01 +5.81%
View chart & analysis → - 1Marvell Technology set a revenue target of $70 billion to $90 billion for fiscal year 2031 at an investor event.
- 2MRVL shares surged nearly 6% on Tuesday.
- 3Marvell's custom AI chip business is expected to reach approximately $30 billion in revenue by fiscal year 2031.
So what's the key point?
Marvell Technology set a high future revenue target for its artificial intelligence chips. Following this news, the stock price rose by about 6%.
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