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Marvell raises annual forecast as AI demand stays exceptionally robust
The company expects revenue growth to accelerate through the rest of its fiscal year, building on 37% growth from its latest quarter.
Marvell Technology said it is boosting its annual forecast, but the stock was down in after-hours trading Thursday, as investors weighed whether there is additional upside beyond the update.
In a statement, CEO Matt Murphy described demand for artificial-intelligence-related offerings as “exceptionally robust,” linking the outlook to continued strength in AI-related demand.
Marvell also said it expects its revenue growth to accelerate through the rest of its current fiscal year from the 37% pace it reported for its latest quarter.
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