Marvell raises annual forecasts, but shares fall as Google deal questions linger

Marvell Technology failed to provide a meaningful increase to its long-term revenue outlook despite signing a major new AI chip agreement with Google, disappointing investors looking for evidence that the deal would accelerate growth sooner.

The chipmaker’s shares slid over 6% after hours on Thursday as concerns over the timing of revenue from the Google agreement overshadowed an increase in revenue forecasts ‌for fiscal ⁠2027 and 2028. ⁠The stock has nearly tripled so far this year on AI-driven optimism.