Marvell Tech's Record Revenue, Google Deal in Sight

0:00It's April 20, Durham news today starts now, AI powered and ready, I'm Corey, with the story. Marble technology just dropped some fire numbers, straight out the gate with record fiscal year 2026 revenue hitting $8 billion. $195 million, up 42% from last year. They're killing it in custom AI chips, and investors are buzzing about talks with Google for a hyperscaler design win that could lock them into deeper, AI system rules, like memory processing or inference tensor units. Digging into the details, quarterly revenue jumped 22% to $2 billion, $219 million, with bookings and design. Winds also smashing records. About 74% of that cash now flows from data centers, tying their growth tight to AI demand, but amping up the leverage if it keeps, rolling. Wall streets feeling the heat, Oppenheimer bumped their price target from $150 to $170 betting on ASIC, revenue topping $2 billion this year alone.

1:04These winds mean steadier, long-term revenue, since inference workloads stick around longer than one off training builds. Looking ahead, Marvel's guiding fiscal year 2027 first quarter revenue at $2,400 million, give or take 5%, with gross margins holding strong at 58 to 59%. That's a signal for scaling up without sacrificing profits, backed by a fat pipeline of designs All eyes on confirmation of that Google deal or ramped bookings in the next few quarters. If they deliver, Marvel could level up to a more bulletproof. Earnings machine, but watch for AI slow down risks or competition from big players like Broadcom.