Marvell AI Chips Stay On Track, JPMorgan Dismisses Share Loss Chatter
1. JPMorgan reiterates Overweight rating on MRVL with a $130 price target. 2. Marvell’s ASIC programs at Microsoft and AWS are progressing well. 3. Expected $4 billion in AI revenues this year, up 2x Y/Y. 4. Maia AI ASIC program scheduled for 2026-2028 ramp-up. 5. MRVL stock increased by 3.25% to $58.19 recently.