Marvell targets $30 billion in custom silicon revenue by FY2031

Marvell Technology wants to turn a side business into a juggernaut. At its October 6, 2026, Investor Day, the chipmaker said it is targeting approximately $30 billion in annual custom silicon revenue by fiscal year 2031. For reference, that business brought in about $1.5 billion in FY2026. The goal implies roughly 20 times growth in five fiscal years. The numbers behind the pitch The custom silicon target sits inside a larger company-wide forecast. Marvell is guiding to total revenue between $70 billion and $90 billion for FY2031. The $30 billion custom silicon figure represents the midpoint contribution within that range. Marvell’s total revenue for FY2026 came in at $8.2 billion. The custom silicon bet breaks into two main pieces. The first is custom XPUs, which are AI accelerators built to order for specific hyperscale cloud customers. The second piece is what Marvell calls “XPU attach.” This covers the supporting silicon that surrounds an accelerator, including networking and storage chips. Marvell estimates the XPU attach opportunity could reach $15 billion by FY2031. If that lands, it would leave attach revenue roughly balanced with standalone XPU sales. Who is buying Marvell...