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MRVL-MARVELL TECHNOLOGY INC

Marvell Technology, Inc. Reports 98% Increase in Data Center Revenue and Positioned for Continued Growth Amid Rising AI Demand

Tuesday

24 December, 2024

Marvell Technology, Inc. is experiencing remarkable growth, reporting a staggering 98% increase in data center revenue driven by soaring demand for its custom ASIC AI chips. With analysts projecting a target price of $140 for 2025, can Marvell maintain its momentum in the competitive AI landscape?

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Key Takeaways
  • Marvell Technology, Inc. is experiencing significant growth in the AI chip market, with a 98% increase in data center revenue.
  • The company's custom ASICs are becoming popular among leading cloud providers, enhancing its competitive position.
  • Following a 20% rise in stock price after earnings, analysts view it as a "Moderate Buy."
  • Bank of America projects a target price of $140 by 2025, indicating strong future potential.
  • Overall, Marvell's performance and strategies suggest a favorable investment landscape in AI and semiconductors.
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