Marvell Technology reported $2.4 billion in revenue with a 58.3% gross margin while pursuing custom ASIC chips for AI infrastructure, bolstered by Nvidia's $2 billion strategic investment and Broadcom's $11 billion quarterly AI revenue validating its market position. The company launched the Teralynx T100 switch and acquired Polariton Technologies, with Wall Street issuing a BUY rating and $250 price target after a 34% pullback, citing a $4 billion 2028 revenue target. Rival Credo Technology grew 157% with higher margins through its $750 million Dust Photonics acquisition for silicon photonics capabilities, intensifying competition in AI connectivity semiconductors.
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