Amazon's AI Chip Backlog Reaches $225 Billion, Marvell Shares Double
AMZN•Amazon's custom AI chip unit has a $225B revenue backlog and is posting triple-digit year-over-year growth as Trainium3 chips near sell-out. Customers are already booking next-gen Trainium4, lifting semiconductor partner Marvell Technology stocks which have doubled in 2026 and target $325 by FY2029.
1. AI Chip Backlog Surges to $225 Billion
Amazon's custom AI chip division has racked up a $225 billion revenue backlog, reflecting triple-digit year-over-year growth driven by increased enterprise AI deployments seeking high-performance training solutions.
2. Trainium3 Nears Sell-Out, Trainium4 Reservations Underway
Trainium3 chips are approaching full capacity, prompting customers to reserve next-generation Trainium4 units, signaling strong ongoing demand and Amazon's push to maintain leadership in in-house AI hardware.
3. Marvell Technology Gains From Design Partnership
Marvell Technology, Amazon's semiconductor design partner, has doubled in share price this year as it benefits from Amazon's AI chip demand, with analysts projecting Marvell could reach $325 per share by fiscal 2029.
