Marvell Technology (MRVL)
Marvell Technology (MRVL) designs the data-infrastructure chips that hyperscalers buy to build AI data centers, from custom AI accelerators to optical DSPs and interconnect silicon. In ETFpedia it represents the Optical Networking & Photonics concept, because its 800G and 1.6T optical DSPs move data inside AI clusters, and data center reached about 76% of revenue in fiscal Q1 2027.
| Ticker | MRVL |
|---|---|
| Exchange | NASDAQ |
| Sector | Technology · Data-Infrastructure Semiconductors |
| Country | United States |
| Held by ETF | KODEX US AI Optical Communication Network ETF (0173Y0) |
| Last updated | 2026-06-04 |
Next event:Next earnings · fiscal Q2 2027, estimated · Date is analyst/calendar-estimated; confirm on Marvell IR. Last report: fiscal Q1 2027 on 2026-05-27. (source)
Latest reported quarter:Fiscal Q1 2027 (ended May 2, 2026) (reported2026-05-27)
Marvell posted record revenue of $2.418 billion, up 28% year over year, with non-GAAP EPS of $0.80 and non-GAAP gross margin of 58.9%, as data-center demand drove about 76% of sales.
| Revenue | $2.418B+28%YoY · record |
|---|---|
| Non-GAAP EPS | $0.80 |
| GAAP EPS | $0.04 |
| Non-GAAP gross margin | 58.9% |
| Data Center revenue | $1.833B · 76% of total, +27% YoY |
Revenue by segment
| Data Center | $1,833M · 76%of revenue+27% YoY |
|---|---|
| Communications & Other | $585M · 24%of revenue+29% YoY |
Guidance:Fiscal Q2 2027
| Revenue | $2.70B ± 5% |
|---|---|
| Non-GAAP EPS | $0.93 ± $0.05 |
| Non-GAAP gross margin | 58.25%–59.25% |
Recent & upcoming events
- · Record fiscal 2026: revenue $8.195B, data center over $6B.Full-year revenue rose 42% with data center up 46%, setting up raised AI bookings momentum into fiscal 2027. (source)
- · OFC 2026 AI-connectivity showcase.Demonstrated 1.6T PAM4 optical DSPs, Photonic Fabric for multi-rack optical scale-up, and PCIe 8.0 SerDes. (source)
- · Record fiscal Q1 2027; outlook raised.Revenue $2.418B (+28%); Marvell raised its revenue outlook for both fiscal 2027 and 2028 on AI bookings. (source)
Marvell's GAAP EPS ($0.04) trails non-GAAP ($0.80) largely due to stock-based compensation and acquisition amortization.
Figures are as of 2026-06-03 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Marvell do?
Marvell sells data-infrastructure semiconductors: custom AI accelerators (XPUs) designed for individual hyperscalers, electro-optics and PAM4 optical DSPs, Teralynx Ethernet switching, SerDes interconnect, and storage controllers. The common thread is moving and processing data inside the data center, which is why a single capital cycle, the AI build-out, now drives the business. In fiscal Q1 2027, data center was about 76% of revenue (8-K, May 27, 2026).
How is AI driving Marvell’s business?
Custom AI silicon and the optics around it scale with every new accelerator a hyperscaler deploys. Marvell’s data-center revenue grew 27% year over year in fiscal Q1 2027, and management raised its multi-year outlook on the strength of AI bookings (8-K).
We are seeing exceptional AI-related bookings, and as a result, we are significantly raising Marvell’s revenue outlook for both fiscal 2027 and fiscal 2028.
— Matt Murphy, Chairman & CEO, Marvell (fiscal Q1 2027 results)
What did Marvell report most recently?
In fiscal Q1 2027 (the quarter ended May 2, 2026), Marvell posted record revenue of $2.418 billion, up 28% year over year, with non-GAAP EPS of $0.80 and non-GAAP gross margin of 58.9% (8-K). GAAP EPS was $0.04, with the gap driven mostly by stock-based compensation and acquisition amortization.
What is Marvell’s guidance?
For fiscal Q2 2027, Marvell guided revenue to $2.70 billion ± 5%, non-GAAP EPS to $0.93 ± $0.05, and non-GAAP gross margin to 58.25–59.25% (8-K). That implies continued strong growth as custom-silicon programs ramp.
Why is Marvell part of optical networking?
At OFC 2026, Marvell showed 1.6T PAM4 optical DSPs and its Photonic Fabric for multi-rack optical scale-up (Marvell). Those DSPs are the brains inside the optical transceivers that wire AI clusters, which puts Marvell squarely in the Optical Networking & Photonics theme alongside its custom-compute business.
What are the risks for Marvell?
- Customer concentration. Custom AI silicon depends on a few hyperscaler programs; a delayed or lost socket would hit hard.
- AI cyclicality. The raised outlook hinges on bookings momentum that could fade if hyperscaler capex slows.
- Competition. Broadcom, in-house hyperscaler silicon, and other DSP vendors pressure share and pricing.
- Thin GAAP profitability. Heavy stock-comp and amortization keep GAAP earnings well below non-GAAP.
Related securities, concepts & terms
- AI Infrastructureparent
- Optical Networking & Photonicsparent
- Coherent (COHR)sibling
- Arista Networks (ANET)sibling
Related indices & ETFs
- KODEX US AI Optical Communication Network ETF (0173Y0) · Samsung Asset Management (KODEX)Korea-listed ETF tracking the Akros U.S. AI Optical index, the AI-optical-networking theme.
Frequently asked questions about Marvell
What does Marvell do?
Marvell Technology designs data-infrastructure semiconductors: custom AI accelerators, optical DSPs, Ethernet switching, SerDes interconnect, and storage controllers, sold mainly to hyperscalers. Data center was about 76% of its revenue in fiscal Q1 2027.
When does Marvell report its next earnings?
Marvell is expected to report fiscal Q2 2027 results around August 20, 2026. That date is analyst/calendar-estimated, so confirm it on Marvell's investor-relations site. It last reported fiscal Q1 2027 on May 27, 2026.
What was Marvell's latest quarterly revenue?
Marvell reported record revenue of $2.418 billion in fiscal Q1 2027 (the quarter ended May 2, 2026), up about 28% year over year, with non-GAAP EPS of $0.80 and non-GAAP gross margin of 58.9%. Data center revenue rose 27% to $1.833 billion, and operating cash flow hit a record $638.8 million.
What is Marvell's guidance?
For fiscal Q2 2027, Marvell guided revenue to $2.70 billion plus or minus 5%, non-GAAP EPS to $0.93 plus or minus $0.05, and non-GAAP gross margin to 58.25–59.25%. It also raised its fiscal 2027 and 2028 outlook on AI bookings.
Why is Marvell an AI optical networking play?
Marvell makes the 800G and 1.6T PAM4 optical DSPs and interconnect chips that move data inside AI clusters, plus custom AI silicon and Ethernet switching. Its data-center business drives most of its revenue and is tied directly to the AI build-out.
Sources & references
- Marvell Technology reports fiscal Q1 2027 results (Form 8-K, Exhibit 99.1) · Marvell Technology / SEC EDGAR, 2026-05-27
- Marvell Technology · investor relations and events · Marvell Technology, 2026-06-02
- Marvell to showcase end-to-end AI data-center connectivity at OFC 2026 · Marvell Technology, 2026-03-12
- Marvell (MRVL) Q4 fiscal 2026 earnings call transcript · The Motley Fool, 2026-03-05
- Nasdaq listed company information · MRVL · Nasdaq, 2026-06-02