Marvell Technology Targets Up to $90B Revenue by 2031 as AI Demand Accelerates

October 7, 2026 - 01:24

Marvell Technology used its 2026 Investor Day to lay out a far more ambitious growth plan, telling investors it now expects annual revenue to reach between $70 billion and $90 billion by fiscal 2031. That target marks a sharp increase from the company's earlier projections and reflects how quickly demand for artificial intelligence infrastructure is reshaping the semiconductor market.

The chipmaker also raised its revenue outlook for fiscal 2028, signaling confidence that the current wave of data center investment will continue for years rather than cooling off. Much of that optimism rests on the company's connectivity and custom silicon business, which supplies the high-speed networking components and tailored processors that large cloud providers need to link thousands of AI accelerators together.

AI models have grown larger and more complex, and the clusters used to train and run them require enormous amounts of bandwidth. Marvell has positioned itself as a key supplier for that buildout, competing with rivals in the custom chip and optical networking space. Executives framed the updated guidance as evidence that the company's bets on AI infrastructure are paying off, though they acknowledged that execution and manufacturing capacity will determine whether the lofty 2031 goal is reached. Investors will watch upcoming quarterly results for signs that the demand pipeline remains as strong as management claims.