Marvell raises its fiscal 2028 revenue target to about $20bn and sets $70bn to $90bn for fiscal 2031

Marvell Technology held its investor day in New York on 6 October, according to its own event page. It raised its fiscal 2028 revenue target to about $20 billion, Investing.com and the Motley Fool reported; the Motley Fool and Futurum said that was up from the $18 billion it had given in August. It also set a revenue target of $70 billion to $90 billion for fiscal 2031, with earnings per share of $30 or more, the same two outlets reported.

Management raised its fiscal 2029 target for custom-chip revenue, the chips it designs for cloud companies' own AI systems, to more than $12 billion from more than $10 billion, Investing.com and Futurum reported. Marvell put its addressable market at about $400 billion by 2030, both outlets reported; Investing.com said chief executive Matt Murphy presented the figure.

The shares rose 5.8% that day, Reuters and the Motley Fool reported, on a day the Nasdaq closed at a record. Marvell's own presentation slides would not open from here (two tries), so these targets are given as the outlets reported them, not from the issuer's document.

The targets are a bet that cloud companies will keep designing their own AI chips with partners like Marvell rather than buying only Nvidia's, and that the optical links between chips in AI data centres will keep growing.

• Reported Marvell raised its fiscal 2028 revenue target to about $20bn and set $70bn to $90bn for fiscal 2031, Investing.com reported. Investing.com
• Reported The fiscal 2029 custom-chip target rose to more than $12bn from more than $10bn, and the addressable market was put at about $400bn by 2030; the fiscal 2028 target was up from $18bn guided in August, Futurum reported. Futurum
• Confirmed Marvell held its 2026 investor day on 6 October in New York. Marvell