Marvell Delivers Record-Breaking Q1 Results, Powers AI Revolution
Marvell Technology Inc. has kicked off its fiscal year 2026 with a bang, delivering record-breaking revenue of $1.895 billion for the first quarter. This represents a 4% sequential increase and an impressive 63% year-over-year growth, according to Matt Murphy, Chairman and CEO.
Marvell's data center end market continues to be a powerhouse, achieving record revenue of $1.44 billion in Q1, up 5% sequentially and 76% year-over-year. This momentum is expected to continue in the second quarter, with data center revenue projected to grow sequentially in the mid-single-digit range on a percentage basis while maintaining strong year-over-year growth.
The company's custom AI silicon programs have scaled rapidly to high-volume production, driving robust shipments of electro-optics products for AI and cloud applications. Marvell is expanding the capabilities of its advanced technology platform to enable customers to build full-rack level custom infrastructure, including innovative technologies such as custom high-bandwidth memory and co-packaged optics.
Marvell's custom HBM compute architecture enhances XPU performance by optimizing the IO interfaces between accelerator silicon and the memory embedded in the package. This enables AI custom compute accelerators with much more efficient integration of Main Memory, resulting in increased utilization and reduced run times.
The company's breakthrough co-package Optics platform enables customers to integrate its silicon photonics light engine into future custom AI accelerators. Co-package Optics can drive a transition from copper interconnects to optical fiber for scale-up AI clusters, significantly expanding Marvell's interconnect revenue and market opportunities.
Marvell has also announced new additions to its custom platform, including a partnership with NVIDIA and the integration of NVLink fusion technology. This is expected to further accelerate the company's growth in the data center and AI markets.
In addition to its strong Q1 results, Marvell has increased its stock repurchases to $340 million, a significant step-up from the $200 million repurchased in the prior quarter. The company also announced the sale of its automotive Ethernet business to Infineon in an all-cash deal worth $2.5 billion.
Looking ahead to Q2, Marvell is forecasting revenue of $2 billion at the midpoint of guidance, representing a 57% year-over-year growth and another record revenue level for the company.
