Marvell forecasts fourth-quarter revenue above estimates on strong AI-backed demand

Marvell's shares have risen nearly 60% this year as Wall Street pours billions of dollars into AI-linked stocks, placing huge bets on the future of genAI technology. Demand for advanced chips that can support the complex processing needs of genAI has soared as companies race each other to develop the most sophisticated models. The company forecast fourth-quarter revenue of $1.80 billion, plus or minus 5%, compared with analysts' average estimate of $1.65 billion, according to data compiled by LSEG.

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Marvell forecasts fourth-quarter revenue above estimates on strong AI-backed demand

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