Marvell tracker: custom AI chips, optical links, switches and results

Sales by market

Marvell splits its sales into two markets. Data centre covers custom AI chips, optical chips, switches and storage chips. Communications and other covers office and phone networks, consumer and industrial chips.

May–Jul 2026

Data centre+46% on a year ago$2.17bn79%
Communications and other+10% on a year ago$568m21%

The last five quarters

	Q2 FY26May–Jul 2025	Q3 FY26Aug–Oct 2025	Q4 FY26Nov 2025–Jan 2026	Q1 FY27Feb–Apr 2026	Q2 FY27May–Jul 2026
Data centre	$1.49bn	$1.52bn	$1.65bn	$1.83bn	$2.17bn
Communications and other	$516m	$557m	$567m	$585m	$568m

Marvell merged its smaller markets into Communications and other from Nov 2025–Jan 2026 and restated earlier quarters. The car Ethernet business was sold in Aug 2025. Sources: Q2 FY26, Q3 FY26, Q4 FY26, Q1 FY27, Q2 FY27

Money back to shareholders

Marvell hands cash back by buying its own shares (which leaves fewer shares, so each one owns more of the company) and by paying dividends. Read automatically from its quarterly filings with the US regulator.

Shares bought back, last 12 months: $1.90bn
Dividends paid, last 12 months: $209m
Shares in issue: 0.92bn; +6.8% since Aug–Oct 2023

Cash handed back each quarter

Marvell buybacks and dividends each quarter

$254m

Cash paid out in each quarter; the year is Marvell’s own. Shares in issue is the average number in the quarter, counting options. SEC filings

Q2 FY27 results

Published 27 Aug 2026. Sales rose 37% to a record $2.74bn, led by data centre chips up 46%. Net income rose 58% to $308m. Marvell expects about $3.15bn of sales in Aug–Oct 2026.

In brief

Sales of $2.74bn, up 37% and $39m above the middle of Marvell’s own forecast.
Data centre sales of $2.17bn, up 46%, now 79% of all sales.
Communications and other sales of $568m, up 10%.
Net income of $308m, up 58%. Adjusted earnings per share $0.94.
Cash from operations of $606m. Bought back $200m of its own shares.
Forecast for Aug–Oct 2026: sales of about $3.15bn, give or take 5%.

Against a year ago (Q2 FY26)

	Q2 FY26	Q2 FY27	Change
Sales	$2.01bn	$2.74bn	up +37%
Data centre	$1.49bn	$2.17bn	up +46%
Communications and other	$516m	$568m	up +10%
Net income	$195m	$308m	up +58%

Red and green show whether a change is good or bad for Marvell, so more spending shows in red.

Sales

Sales by quarter

$2.0bn
$2.1bn
$2.2bn
$2.4bn
$2.7bn

Net income

Net income by quarter

$0.2bn
$1.9bn
$0.4bn
$0.0bn
$0.3bn

Aug–Oct 2025 net income includes a one-off gain from selling the car Ethernet business. Adjusted figures leave out one-off items. Marvell Q2 FY27 results, 27 Aug 2026

Products and progress

Where each Marvell product has got to, from first announcement to widely available. Checked against Marvell’s Q2 FY27 results (27 Aug 2026), its Investor Day (6 Oct 2026) and its announcements.

Custom

Custom AI chips Widely available

Target raised to more than $12bn of custom sales in FY29 (Investor Day, 6 Oct 2026)

Chips Marvell designs with one cloud company for its own AI systems: the main AI processor (XPU) and the chips around it, such as network cards and memory controllers. Futurum on Marvell Investor Day, Oct 2026
NVLink Fusion with Nvidia In development

Nvidia invested $2bn in Marvell (31 Mar 2026)

Marvell will supply custom chips and scale-up networking that plug into Nvidia’s NVLink Fusion racks. The two will also work together on silicon photonics. Nvidia news, 31 Mar 2026

Optics

800G and 1.6T optical chips (DSPs) Widely available

In volume; new 3nm Ara X, Ara T, Petra and Aquila M chips sampling since Q1 2026

The chips inside the plug-in optical modules that carry data as light between servers and switches in AI clusters. Marvell release via StorageNewsletter, 3 Apr 2026
Scale-up optics (Celestial AI) In development

Celestial AI purchase completed Feb 2026; Marvell expects these sales to start ramping next year

Celestial AI’s Photonic Fabric links AI chips with light across racks, further than copper wires can reach. Futurum on Marvell Investor Day, Oct 2026
3.2T optics (Polariton) In development

Bought Swiss firm Polariton Technologies, 22 Apr 2026

Polariton’s plasmonics technology is meant to take optical links to 3.2T and beyond, using less power. Marvell news, 22 Apr 2026

Switching

Teralynx T100 switch chip Testing

Sampling to customers from mid-2026 (announced 1 Jun 2026)

A 102.4 terabit-a-second network switch chip built on 3nm for AI clusters. Marvell says it uses up to 25% less power than rivals. Marvell news, 1 Jun 2026

Memory

Structera X memory expanders (2nd generation) In development

Unveiled 12 Oct 2026; samples expected in Q1 2027

Chips that let a server add far more memory than fits next to its processor, up to 9TB each, which helps AI inference. Marvell news, 12 Oct 2026

Markets

Data centre chips Widely available

$2.17bn of sales in May–Jul 2026, up 46%

Everything Marvell sells into data centres: custom chips, optical chips, switches and storage chips. Now 79% of all sales. Marvell Q2 FY27 results
Communications and other Widely available

$568m of sales in May–Jul 2026, up 10%

Chips for office networks, phone networks, consumer and industrial kit. Marvell Q2 FY27 results

What’s new

Filing Company announcement: signed a major agreement SEC, 23 Oct
Filing Justin Scarpulla: used options 510 shares SEC, 16 Oct
Filing Chris Koopmans: used options 10,265 shares SEC, 16 Oct
Filing Sandeep Bharathi: sold 3,685 shares ($865,864) SEC, 16 Oct
Filing Notice of a planned share sale SEC, 16 Oct
Filing Mark Casper: used options 4,113 shares SEC, 16 Oct
Filing Matthew J Murphy: sold 7,500 shares ($1.8m) SEC, 16 Oct
Filing Justin Scarpulla: sold 1,100 shares ($300,949) SEC, 10 Oct
Filing Notice of a planned share sale SEC, 8 Oct
Filing Chris Koopmans: sold 10,000 shares ($2.6m) SEC, 2 Oct
Filing Notice of a planned share sale SEC, 1 Oct

The last 30 days. Headlines link to the full stories on the publishers’ own sites.

Numbers

Sales each quarter

Marvell sales each quarter

$3bn

Net profit each quarter

Marvell net profit each quarter

$0bn

Quarter	Months	Sales	Net profit
Q2 FY27	May–Jul 2026	$2.74bn	$308m
Q1 FY27	Feb–Apr 2026	$2.42bn	$34.5m
Q4 FY26	Nov 2025–Jan 2026	$2.22bn	$396m
Q3 FY26	Aug–Oct 2025	$2.07bn	$1.90bn
Q2 FY26	May–Jul 2025	$2.01bn	$195m
Q1 FY26	Feb–Apr 2025	$1.90bn	$178m

Marvell’s financial year ends in late January or early February, so its Q2 FY27 is May to July 2026. From Marvell’s results filed with the SEC; newer quarters appear automatically, with the business split added after each report is checked.

Directors’ share deals

Directors and senior staff must tell the SEC within two business days when they buy, sell or are given shares.

Reported	Who	What happened
16 Oct 2026	Justin ScarpullaSVP, Chief Accounting Officer	Used options 510 shares Shares kept back for tax 253 shares
16 Oct 2026	Chris KoopmansPresident and COO	Used options 10,265 shares Shares kept back for tax 5,406 shares
16 Oct 2026	Sandeep BharathiPresident, Data Center Group	Used options 11,187 shares Shares kept back for tax 5,893 shares Sold 3,685 shares at $234.97 ($865,864)
16 Oct 2026	Mark CasperEVP & Chief Legal Officer	Used options 4,113 shares Shares kept back for tax 2,167 shares
16 Oct 2026	Matthew J MurphyChairman of the Board and CEO, Director	Sold 7,500 shares at $235.47 ($1.8m) Used options 21,497 shares Shares kept back for tax 11,320 shares
9 Oct 2026	Justin ScarpullaSVP, Chief Accounting Officer	Sold 1,100 shares at $273.59 ($300,949)
1 Oct 2026	Chris KoopmansPresident and COO	Sold 10,000 shares at $262.05 ($2.6m)
16 Sep 2026	Daniel DurnChief Financial Officer	Used options 6,469 shares Shares kept back for tax 3,408 shares

From Form 4 filings on SEC EDGAR. ‘Used options’ means turning share options into shares; it is not a purchase on the market.

Share price

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Timeline

Oct 2026Investor Day: FY28 sales target raised to about $20bn and a FY31 goal of $70bn–$90bn set.
Mar 2026Nvidia invests $2bn as part of an NVLink Fusion partnership.
Feb 2026Completes the purchases of Celestial AI and XConn Technologies.
Aug 2025Sells its car Ethernet business to Infineon for $2.5bn.
Apr 2021Completes the purchase of Inphi, maker of optical chips for data centres.
1995Marvell is founded in Silicon Valley.

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Where this comes from

US filings, results and insider deals: SEC EDGAR
Sales by market: Marvell’s quarterly results
Product news: Marvell newsroom
Products, cities and timeline: checked by ChartsView against the company’s own reports, last on 31 Oct 2026.

All sources are free and public. Data is collected each morning and refreshed through the day. This page is for information only and is not investment advice.

ChartsView is independent and is not connected with, or endorsed by, Marvell Technology, Inc. The company’s name is used only to say who this page is about.