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Marvell Technology now derives 76% of its revenue from data centres, up from 74% in the previous quarter. The company's guidance indicates this concentration will increase further, with data centre sales projected to grow about 50% in fiscal 2027 and 55% in fiscal 2028. Management expects cloud capital spending growth to moderate to around 30% in fiscal 2028 whilst planning for its own data centre revenue to accelerate to 55%. This assumes Marvell will capture a larger share of slowing spending growth. The bulk of revenue comes from the top four US hyperscalers. The stock trades at 18.5 times sales, in the top decile of its ten-year range, despite sitting 58% below its 52-week high of $316.35.

Marvell invests $250 million in India to expand AI and Semiconductor Innovation capabilities. Marvell Technology announced plans to invest $250 million in India over the next three years to expand its capabilities across technology, talent and infrastructure. The announcement coincides with a milestone event celebrating 20 years of innovation in India, highlighting the company's contributions to global technology development, its continued investment in the region and its commitment to advancing India's semiconductor ecosystem and engineering talent. As part of this investment, Marvell plans to double its headcount over the next three years and is unveiling a new wing at its Bangalore office while expanding its presence in Hyderabad. The expanded footprint will strengthen the company's global innovation network, supporting the design and development of advanced semiconductor solutions for AI, cloud and data infrastructure applications. Advancing Semiconductor Innovation Marvell established operations in Bangalore in 2006 and has since grown India into the company's second-largest R&D organization worldwide. Teams across Bangalore, Pune and Hyderabad have developed deep expertise in advanced process technologies (2nm and beyond), high-speed analog IP, subsystem design, software/firmware development and end-to-end silicon development. Today, Marvell India contributes across numerous technology platforms, with its employees holding multiple patents and is playing a leading role in applying advanced AI tools to accelerate engineering productivity and innovation. Beyond technology development, Marvell continues to invest in the long-term growth of India's semiconductor ecosystem through collaboration with universities, startups, industry associations, and government organizations. Marvell collaborates with leading universities to support internship programs, faculty development initiatives, joint research projects, and curriculum development designed to better prepare students for careers in advanced technology fields. Marvell also works with emerging startups through mentorship and strategic collaborations in areas aligned with company technology and product portfolios. In addition, Marvell actively engages with industry associations and government bodies to foster greater collaboration across the ecosystem and support the continued growth of India's semiconductor industry. Marvell Scholarship Program During the event, Marvell underscored its commitment to developing future engineering talent through its Marvell Scholarship for Technical and Engineering Merit (MSTEM) program, an initiative designed to help cultivate the next generation of AI and semiconductor innovators through financial support, hands-on industry experience, and exposure to real-world technology development. Launched earlier this year, the MSTEM program supports students pursuing degrees in electronics, electrical engineering, and computer science. The program attracted more than 7,000 applicants from leading universities across India, with 100 outstanding students selected to receive scholarships. By combining financial assistance with practical industry engagement, the program aims to strengthen India's technology talent pipeline and prepare students for careers at the forefront of semiconductor and AI innovation. Navin Bishnoi, vice president and India country manager, at Marvell India has become a strategic hub of engineering excellence for Marvell, playing a critical role in advancing the infrastructure technologies that power the world's leading hyperscalers and cloud providers. As we celebrate 20 years in India, we remain committed to expanding R&D investments, strengthening the country's semiconductor ecosystem and developing the next generation of technology talent. We are grateful to our customers, partners, government collaborators, academic institutions and especially our exceptional team, whose innovation, expertise and dedication have been instrumental to the growth and success of Marvell in India. Ray Sharma is an Industry Analyst and Editor at The Fast Mode. He has over 15 years of experience in mobile broadband technologies and solutions, conducting research and analysis on various technology segments and producing articles and write-ups on the latest developments within the sector. He is also in charge of social media engagement and industry liaisons. The Fast Mode 9658 likes TWEETS 28.4K FOLLOWING 3479 FOLLOWERS 13.2K

Marvell boosts India semiconductor R&D with $250 million investment. Marvell Technology, Inc. (Nasdaq: MRVL) plans to invest $250 million in India over the next three years, expanding its engineering operations, workforce and research infrastructure as the semiconductor company strengthens its role in developing next-generation AI, cloud and data infrastructure technologies. The announcement comes as Marvell marks 20 years of operations in India, underscoring the country's growing importance to the company's global research and development strategy and the broader semiconductor industry's efforts to expand engineering capabilities in one of the world's largest technology talent pools. The investment will support the expansion of Marvell's engineering facilities, including a new wing at its Bengaluru campus and an enlarged presence in Hyderabad. The company also plans to double its headcount in India over the next three years, reinforcing its position in advanced semiconductor design and AI-driven infrastructure development. According to Marvell, the expanded operations will contribute to the design and development of semiconductor technologies powering artificial intelligence, hyperscale cloud infrastructure and next-generation data centres. "India has become a strategic hub of engineering excellence for Marvell, playing a critical role in advancing the infrastructure technologies that power the world's leading hyperscalers and cloud providers," said Navin Bishnoi, Vice President and India Country Manager at Marvell. "As we celebrate 20 years in India, we remain committed to expanding R&D investments, strengthening the country's semiconductor ecosystem and developing the next generation of technology talent," Bishnoi added. Marvell established its first operations in Bengaluru in 2006. Since then, India has grown into the company's second-largest global R&D organisation, with engineering teams across Bengaluru, Pune and Hyderabad contributing to multiple stages of semiconductor development. The company said its Indian operations have built expertise in advanced process technologies, including 2-nanometre and smaller nodes, alongside high-speed analogue intellectual property, subsystem engineering, firmware and software development, and end-to-end silicon design. Engineers based in India also contribute across Marvell's product portfolio, with teams holding multiple patents and increasingly applying AI-based engineering tools to accelerate semiconductor design and development workflows. The latest investment reflects growing industry efforts to expand semiconductor research outside traditional manufacturing hubs as demand rises for custom silicon supporting AI workloads, cloud computing and high-bandwidth networking. Beyond expanding its own engineering capacity, Marvell said it will continue investing in India's broader semiconductor ecosystem through partnerships with universities, startups, government agencies and industry organisations. The company collaborates with academic institutions on internship programs, faculty development initiatives, joint research projects and curriculum design aimed at preparing students for careers in semiconductor engineering and advanced computing. It also works with emerging technology startups through mentoring initiatives and strategic collaborations aligned with its product development roadmap. Marvell said these efforts are intended to strengthen India's long-term semiconductor capabilities while supporting the country's ambitions to become a larger participant in the global chip value chain. As part of the announcement, the company also highlighted its recently launched Marvell Scholarship for Technical and Engineering Merit (MSTEM) program, which focuses on developing future semiconductor and AI engineers. Introduced earlier this year, the program provides financial assistance alongside practical industry exposure for students pursuing degrees in electronics, electrical engineering and computer science. Marvell said the initiative received more than 7,000 applications from universities across India, with 100 students selected to receive scholarships. The program combines financial support with opportunities to gain hands-on engineering experience and exposure to real-world semiconductor development, helping prepare graduates for careers in AI and chip design.