The company expects fourth-quarter revenue of $1.80 billion, plus or minus five per cent, compared to the average of $1.65 billion that the cocaine nose jobs of Wall Street predicted. 

The demand for advanced chips that can support the complex processing needs of generative AI has soared, with companies racing to develop the most sophisticated models. Marvell’s custom AI silicon programs, now in volume production, have contributed to the company’s strong performance.

Marvell’s third-quarter revenue grew 19 per cent sequentially, driven by strong demand from AI.

The company reported adjusted earnings per share of $0.43, surpassing the Wall Street consensus of $0.41. Revenue for the quarter reached $1.52 billion, beating estimates of $1.45 billion and marking a seven per cent increase year-over-year.

Marvell’s fourth-quarter guidance also impressed investors. The company forecasted revenue of $1.8 billion (+/—5%) and adjusted EPS of $0.59 (+/—$0.05).

The company anticipates continued momentum, projecting 26 per cent year-over-year revenue growth for the fourth quarter.