Marvell Technology has shifted its focus from a dual growth story to concentrate primarily on data centre expansion. The company previously highlighted recovery across carrier, enterprise networking, automotive and industrial markets alongside data centre growth. Management has narrowed this narrative after selling its automotive business and consolidating other markets into a single reporting group. Data centre revenue now represents 79% of total sales, reaching $2.17 billion in fiscal Q2 2027, up 46% year-on-year. The company raised its data centre growth outlook to approximately 60% for fiscal 2027, up from 50% previously. Management expects its custom AI silicon business to ramp significantly in the second half and more than double in fiscal 2028. Markets outside data centres generated $568 million, growing just 10% annually. This concentration creates dependency on one market segment, leaving Marvell vulnerable if data centre growth slows.

Nishit Sahay appointed Chief Information Officer at Altera. September 30, 2026 Nishit Sahay has joined Altera as Chief Information Officer, where he will lead the company's global technology strategy and IT organisation. His responsibilities will focus on strengthening cybersecurity, expanding the use of data and advancing enterprise AI, while building a secure and scalable technology foundation for the company. Altera announced Sahay's appointment on September 28, 2026. In his new role, he will oversee the company's IT organisation and work on technology initiatives supporting its operations and long-term growth. His mandate brings together enterprise technology, cybersecurity, data and AI capabilities. Sahay joins Altera from Marvell Technology, where he served as Senior Vice President and Chief Information Officer. At Marvell, he was responsible for the company's corporate IT organisation, Data Office and Enterprise AI initiatives. His work included driving digital transformation, business process optimisation and technology integration across the organisation. Before Marvell, Sahay held a technology leadership role at Maxim Integrated, where he worked on digital transformation initiatives focused on improving business operations and efficiency. His broader career has included experience with SAP, The Coca-Cola Company and LTI - Larsen & Toubro Infotech, giving him exposure to enterprise technology, business systems, supply chain analytics and technology transformation. His professional experience spans several areas, including enterprise IT, cybersecurity, data and AI transformation, SAP implementation, technology integration and business process optimisation. This background has included working across technology functions as well as using data and digital systems to support business operations. Sahay's appointment comes as Altera continues to develop its technology capabilities as an independent FPGA company. Altera became an independent company following Silver Lake's acquisition of a 51% stake from Intel in September 2025, with Intel retaining a 49% stake. The company describes itself as the largest pure-play FPGA provider, offering programmable compute and connectivity solutions for applications including data centres, communications networks and embedded systems. Altera has also been expanding its focus on AI-enabled systems. In April 2026, the company introduced its FPGA AI Suite release focused on physical AI systems, while its broader product portfolio serves applications across AI, data centres, communications, industrial systems and other technology markets. Commenting on the appointment, Raghib Hussain, President and CEO of Altera, said, "Nishit is an accomplished technology leader who understands how to turn digital strategy into meaningful results," adding that his experience in enterprise transformation and AI initiatives would support Altera as it strengthens infrastructure, simplifies operations and equips teams with improved tools. Sahay holds a Master of Science in Data Science from the University of California, Berkeley, a Master's in Technology Management from The Wharton School/SEAS at the University of Pennsylvania, and a Bachelor of Engineering in Electronics Engineering from Nagpur University. As CIO, Sahay will lead Altera's global technology strategy while overseeing IT, with cybersecurity, data and enterprise AI forming key areas of responsibility. His appointment adds his experience in enterprise transformation and AI-led technology initiatives to Altera's leadership team as the company continues to build its technology infrastructure and - Advertisement -

Marvell has raised its fiscal 2028 revenue outlook to approximately $18 billion, with CEO Matt Murphy attributing the $1.5 billion increase primarily to connectivity products rather than its recent Google agreement. The company highlighted growth in 1.6T optical signal processors and scale-out switching, which is expected to more than double this year. Revenue climbed from $1.90 billion in the quarter ended May 2025 to $2.74 billion in August 2026, with year-over-year growth accelerating from 27% to 37%. GAAP gross margin rose to 53.1%, driven by high-margin merchant products. However, as lower-margin custom chip business ramps up, the company expects non-GAAP gross margin to decline slightly to 57.5%–58.5%. Marvell's forward P/E ratio doubled from 23.7x in January to 48.0x by September, well above its 35.3x average since late 2023.