Marvell shares rose 6% after a GF Securities analyst eased investor concerns about a delay to Google's upcoming AI chip. The analyst said the delay would not weaken Marvell's long-term position in Google's chip supply chain.
Marvell supplies custom AI chips and networking products for data centers. Revenue grew 36.5% year over year in the second quarter of fiscal 2027.
The company expects its custom chip business to more than double in fiscal 2028, with growth accelerating further in 2029. Its partnership with Google extends beyond the delayed TPU, supporting investor confidence in Marvell's growth outlook.