Marvell lifts long‑range revenue targets and secures Google custom‑chip deal with equity warrant
Marvell Technology announced at its 2026 Investor Day that it raised its fiscal 2028 revenue outlook to about $20 billion and set a fiscal 2031 target of $70 billion‑$90 billion. The company also disclosed a commercial agreement with Google that includes a warrant for up to 59 million Marvell shares at $206.58 per share, tied to cumulative custom‑chip purchases. The Google partnership is expected to drive fiscal 2029 custom‑chip revenue above $12 billion and could generate up to $120 billion of purchasing commitments through fiscal 2033.
Why it matters
The higher revenue guidance expands Marvell’s growth outlook and may justify its premium valuation, while the Google warrant aligns the two firms financially and could boost Marvell’s future sales if the spending thresholds are met. Investors will watch whether the company can achieve the ambitious targets and whether the Google spend materialises.
Key facts
- 1Fiscal 2028 revenue target was raised from $18 billion to $20 billion. techtimes.com
- 2Fiscal 2031 revenue target was set at $70 billion to $90 billion. techtimes.com
- 3Google received a warrant to purchase up to approximately 59 million Marvell shares at $206.58 per share. techtimes.com
- 4One warrant tranche vests for each $500 million of qualifying custom‑product revenue, with 240 tranches possible through fiscal 2033. techtimes.com
- 5Fiscal 2029 custom‑chip revenue target was raised to greater than $12 billion. techtimes.com
- 6Google’s purchasing commitments could reach as much as $120 billion through fiscal 2033. finance.yahoo.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.