Overview

• In the first half of fiscal 2026 ending Aug. 2, revenue reached $3.9 billion, up about 60% year over year, with positive net income in both quarters.
• Marvell’s data-center business posted a record $1.49 billion, up 69% year over year, with analysts estimating AI and cloud now drive more than 90% of company revenue.
• Management and coverage describe Q3 as a digestion quarter with mid‑30% year‑over‑year growth guided, flat quarter‑over‑quarter custom XPU revenue, and expectations for stronger Q4 that lifts second‑half custom revenue above the first half.
• AWS remains a key partner supporting revenue visibility, and recent reports highlight work with Nvidia on NVLink Fusion to connect next‑generation AI systems.
• Marvell sold its automotive Ethernet unit to Infineon on Aug. 14 to sharpen its AI focus, while analysts view its forward valuation as attractive versus Broadcom.