Marvell raises its AI chip market forecast

Marvell raised the overall potential market size of its customized AI chips in 2028 from $43 billion to $55 billion in a webinar on June 18. Influenced by this news, Marvell's stock price rose 7.09% that day, closing at $74.95 per share, a record closing high since March 5. Marvell also announced that it had obtained two emerging hyperscale cloud computing customers and more than 50 opportunities to customize chips for other customers, and expected this to translate into $75 billion in revenue.