Reported about 14 hours ago
Marvell Technology's shares surged approximately 22% to a record high following the company's optimistic Q4 revenue forecast, driven by robust demand for AI chips. The forecast indicates that Marvell could exceed its goal of $1.5 billion in AI revenue this fiscal year, while the company's data center segment reported a 98% growth in Q3. CEO Matt Murphy reaffirmed his focus on Marvell amid speculation about his candidacy for the CEO position at Intel.
Source: YAHOO