Marvell Technology's reported revenue of $1.52 billion in Q3, exceeding expectations, with a significant future outlook driven by a multi-year custom AI chips agreement with Amazon.
The new contract with Amazon Web Services is not just about AI chips; it encompasses a wide array of products including optical chips, data center modules, and Ethernet solutions.
CEO Matthew Murphy highlighted that this agreement marks a 'significant step-up' in business forecasts, contributing to a raised overall revenue outlook of $1.8 billion.
While Nvidia leads the AI chip market, Marvell is firmly establishing itself in the growing niche for custom chips, distinguishing itself alongside a few competitors.
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