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Marvell Stock Drops Despite AI Surge | Business and Finance News
Description
Marvell’s stock tumbled 8% despite crushing Q2 revenue targets—$2.7B, beating May forecasts—with AI data center demand surging 46% YoY and strong AI-related orders fueling growth through FY2027. The surprise? Investors were expecting even bigger numbers after a $12.2B Google deal, which also ties future share purchases to performance milestones. CEO reassured that momentum is real, even if the outlook for FY2028 fell short of hype.
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