Marvell Technology raised its long-term revenue target at its Investor Day, projecting approximately $20 billion in total revenue for fiscal 2028, above its previous $18 billion target and Wall Street's ~$18.2 billion estimate. The company also guided fiscal 2031 revenue to $70-90 billion, driven mainly by custom silicon and interconnect businesses. Shares rose nearly 9% following the announcement, while rival Broadcom's shares climbed about 4% in early trading.
At Six Five Summit 2026, Marvell executives said inference models drove KV cache to expand roughly 10x in nine months, pushing copper interconnect to performance limits and making optical interconnect and memory expansion core variables for compute scaling. Marvell is advancing NPO and CPO paths, analog SerDes can cut power by ~4x, and it introduced a photonic fabric memory device with a 32TB external memory pool; CXL products have seen considerable demand.