Marvell forecasts fourth-quarter revenue above estimates on strong AI-backed demand
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Marvell Technology forecasts higher-than-expected fourth-quarter revenue due to strong demand for its AI chips, driven by the growing adoption of generative AI technology.
December 03, 2024 | 10:30 pm
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Marvell Technology forecasts higher-than-expected Q4 revenue due to strong demand for AI chips, driven by the adoption of generative AI technology.
Marvell's forecast for higher-than-expected revenue is directly linked to the strong demand for its AI chips, which are crucial for businesses adopting generative AI technology. This positive outlook is likely to boost investor confidence and drive the stock price up in the short term.
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