Vertiv Orders Jump 252% and Marvell Achieves 42% Revenue Growth
As AI data centers surpass 100,000 GPUs, infrastructure providers like Vertiv report Q4 revenue of $2.88 billion with orders up 252%, and Marvell posts record $8.2 billion fiscal 2026 revenue, up 42%. Micron's entire 2026 HBM supply is sold out, underscoring mounting memory constraints in AI servers.
1. Shift in AI Infrastructure Bottleneck
As AI data centers scale beyond 100,000 GPUs, the primary constraints have shifted from chip supply to physical layers such as cooling, power distribution, networking, memory and optical interconnects, creating new chokepoints for deployment speed.
2. Vertiv’s Thermal Management Surge
Vertiv reported Q4 revenue of $2.88 billion with organic orders up 252% year-over-year, a backlog of $15 billion (up 109%) and guidance for $13.25 billion to $13.75 billion in 2026 revenue, highlighting its critical role in liquid cooling and power distribution.
3. Marvell and Astera’s Connectivity Solutions
Marvell posted record fiscal 2026 revenue of $8.2 billion (up 42%) with data center products accounting for 74% of sales and non-GAAP EPS up 81%, while Astera Labs delivered Q4 revenue of $270.6 million (up 92%) as its DSPs and cable modules ensure signal integrity within GPU racks.
4. Micron’s Memory Supply Tightness
Micron’s Q1 fiscal 2026 revenue reached $13.6 billion (up 57%) with non-GAAP EPS of $4.78, and its entire 2026 high-bandwidth memory supply is sold out, highlighting its unique position as the only U.S. HBM manufacturer driven by surging AI server deployments.