Marvell's Near 100% YTD Surge: The AI Chipmaker Leaving Intel in the Dust

Marvell Technology, Inc. (MRVL) has been on a tear in 2024, with its stock price surging nearly 100% year-to-date (YTD). The AI chipmaker has been leaving competitors like Intel (INTC) in the dust, driven by its custom AI silicon programs and interconnect products for AI-enabled data centers. This article explores the factors behind Marvell's impressive YTD performance and its potential for continued growth.



Marvell's fiscal Q3 2025 results, released on Dec. 3, 2024, showcased a 7% year-over-year revenue increase to $1.52 billion, driven primarily by its custom AI silicon programs and interconnect products for AI-enabled data centers. The data center end market accounted for 72% of Marvell's total revenue, up from 39% in the year-ago quarter, demonstrating a significant shift in the company's business profile. CEO Matt Murphy attributed the exceptional performance to strong demand from AI and robust ongoing demand from cloud customers for Marvell's market-leading interconnect products. The company's focus on AI has allowed it to leave competitors like Intel behind, with Marvell's stock surging nearly 100% YTD.



Marvell's success in AI is driven by its custom-designed chips, such as Trainium2 for Amazon, and its dominant position in optical chips for AI cluster connectivity. These products have enabled the company to capitalize on the growing demand for AI capabilities, particularly in the data center market. Marvell's fiscal Q4 guidance also reflects the company's strong momentum, with expected revenue growth of 26% year over year and adjusted EPS growth of 17% to 39%.



While Intel has been struggling to keep up with the AI chip market, Marvell has been able to capitalize on the growing demand for AI capabilities. The company's focus on custom AI silicon programs and interconnect products for AI-enabled data centers has driven its impressive YTD performance and positioned it for continued growth.

In conclusion, Marvell's near 100% YTD surge is a testament to the company's success in the AI chip market. Its custom AI silicon programs and interconnect products for AI-enabled data centers have driven its impressive revenue growth and positioned it for continued success. As the demand for AI capabilities continues to grow, Marvell is well-positioned to capitalize on this trend and leave competitors like Intel in the dust.