Marvell Sets Fiscal 2031 Revenue Target of Up to $90B

Marvell Technology said at its October 6 Investor Day that it expects fiscal 2031 revenue of $70 billion to $90 billion, with an $80 billion midpoint, setting out an ambitious long-term growth target tied to artificial intelligence infrastructure and data-center products. Its shares rose 5.8% Tuesday, closing at $287.01, according to reported trading data. The company’s fiscal 2031 range was described consistently across multiple accounts of the presentation, but the outlook remains a management projection rather than a guaranteed result. Marvell cited opportunities in custom chips, connectivity and optical products as drivers of its expansion. The company develops semiconductors and related technologies used in data infrastructure, including cloud data centers. Reports differed on Marvell’s fiscal 2028 revenue target. One account of Chief Executive Matt Murphy’s presentation put the figure at about $20 billion, compared with a prior target of about $18 billion in August. Other coverage of the same Investor Day described the figure as approximately $18 billion. The discrepancy could not be resolved from the available information, so the exact fiscal 2028 target remains unclear.