Marvell raises 2028 revenue forecast on strong AI data center demand
MRVL•Marvell raised its fiscal 2028 revenue forecast to about $20 billion from $18 billion, above analysts’ $18.2 billion estimate. It forecast fiscal 2031 revenue of $70 billion to $90 billion and said an August Google deal could bring up to $120 billion through fiscal 2033 if targets are met.
1. Higher revenue outlook
Marvell raised its fiscal 2028 revenue forecast to about $20 billion, citing growing demand for custom data center chips as AI spending surges. Analysts had expected $18.2 billion in revenue for 2028.
2. Longer-term forecasts
The company forecast fiscal 2031 revenue of $70 billion to $90 billion. The $80 billion midpoint exceeds analysts’ estimate of $46.85 billion. A deal disclosed with Google in August could generate up to $120 billion in sales through fiscal 2033 if performance milestones are achieved; Marvell had raised its full-year revenue outlook that month to about $18 billion from $16.5 billion.
