Marvell raises fiscal 2027 and 2028 revenue outlooks amid data center growth

Marvell Technology just posted a quarter that most chipmakers would frame and hang on the wall. Fiscal Q2 2027 revenue hit $2.739 billion, a 37% jump from the same period a year ago, and management responded by doing something increasingly rare in semiconductor land: raising guidance not once, but for the second consecutive quarter. The company now expects fiscal 2027 revenue of approximately $12 billion, representing roughly 45% growth. Fiscal 2028? About $18 billion, which would mean 50% growth on top of an already inflated base. Data centers are running the show The engine behind all of this is Marvell’s data center segment, which generated $2.17 billion in Q2 revenue alone. That’s a 46% increase year-over-year and now represents 79% of the company’s total sales. The growth is being driven by a convergence of product lines: custom AI silicon, high-speed interconnects, switching solutions, and optical products. All of these feed into the same macro trend, which is hyperscaler companies like Google, Amazon, and Microsoft pouring tens of billions into AI infrastructure. CEO Matt Murphy described custom AI silicon bookings as “exceptionally robust” during the August 27 earnings call...