Marvell Surges on Ambitious Investor Day Targets, Eyeing Up to $90B in Revenue by FY31

Marvell Technology ($MRVL) shares climbed as much as 10% following the company's 2026 Investor Day, where executive management delivered aggressive long-term financial guidance that surpassed Wall Street consensus estimates.
Marvell raised its fiscal 2028 revenue forecast to approximately $20 billion (up from $18 billion previously), driven by an estimated $18 billion contribution from its data-center infrastructure business. Looking further out, the chipmaker established a multi-year road map projecting fiscal 2031 revenue of $70 billion to $90 billion, backed by custom silicon acceleration and high-speed optical interconnect demand across Tier-1 hyperscalers.
The presentation also underscored Marvell's expanding custom silicon engagements and its foundry partnership with GlobalFoundries ($GFS), as well as strategic initiatives tied to Google's TPU architecture and broader AI acceleration clusters. The updated outlook reinforces Marvell's role alongside broad AI infrastructure suppliers including Broadcom ($AVGO) and Nvidia ($NVDA).