Marvell Technology, Inc. reported second quarter fiscal 2027 financial results with record net revenue of $2.739 billion, a 37% year-over-year increase driven by strong data center demand. GAAP diluted earnings per share were $0.33, while non-GAAP diluted EPS reached $0.94 on net income of $865.9 million. The company raised its full-year fiscal 2027 and fiscal 2028 revenue outlooks due to robust AI-related bookings and accelerating custom business growth. For the third quarter of fiscal 2027, Marvell guided for net revenue of approximately $3.15 billion +/- 5% and non-GAAP diluted EPS of $1.10 +/- $0.05. The company operates in the semiconductor industry, designing data infrastructure solutions.

Marvell Technology entered a commercial agreement with Google LLC to develop custom semiconductor products for the TPU ecosystem, including AI inference accelerators and storage controllers. In connection with this partnership, Marvell issued a warrant to purchase up to 58,970,907 shares of common stock at an exercise price of $206.58 per share. The warrant vests based on discretionary purchases by Google, with one tranche vesting for each $500 million in Custom Products revenue from fiscal 2027 through fiscal 2033. Marvell Technology operates in the semiconductor industry, designing and manufacturing integrated circuits.

On June 25, 2026, Marvell Technology, Inc. announced a quarterly cash dividend of $0.06 per share, payable on July 30, 2026, to stockholders of record as of July 10, 2026. Additionally, at its Annual Meeting of Stockholders held the same day, the company elected its Board of Directors, ratified Deloitte & Touche LLP as its independent auditor, and approved executive compensation on an advisory basis. A stockholder proposal to implement an Independent Board Chairman was defeated. Marvell Technology, Inc. is a semiconductor company that designs and produces data infrastructure silicon and software.

Marvell Technology, Inc. announced the resignation of CFO Willem Meintjes, effective June 15, 2026, and the appointment of Daniel Durn as the new CFO and Executive Vice President, effective the same date. Mr. Durn, a former CFO of Adobe Inc. and Applied Materials, Inc., will receive an annual base salary of $850,000, a $1,000,000 sign-on bonus, and various RSU grants. Marvell Technology, Inc. is a semiconductor company that designs and develops data center, and networking-related infrastructure components.