Marvell raises its outlook twice in two quarters as custom silicon, scale-up optics broaden

Marvell Technology used its second-quarter fiscal 2027 earnings call on August 27 to lift its revenue outlook for a second consecutive quarter, and the composition of the raise says more about the AI infrastructure cycle than the headline number does. Management now expects fiscal 2027 revenue of roughly US$12 billion, up from approximately US$11.5 billion a quarter ago, and fiscal 2028 revenue of approximately US$18 billion, up US$1.5 billion from the US$16.5 billion guided three months earlier. Growth is accelerating off a larger base: fiscal 2028 is now guided at about 50% growth, up from roughly 45% previously.