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What you need to know
- Marvell Technology’s shares rose on Monday, after the company announced that its accelerator chips can now be used to improve the performance of AI servers.
- Marvell claims that its co-packaged technology can increase chip density by hundreds of times.
- Marvell’s announcement follows a recent quarter forecast which significantly exceeded Wall Street expectation.
Marvell Technology’s (MRVL), shares rose Monday, after the company announced that its AI accelerator chips (XPUs), are better able now to improve the performance of AI server.
Co-packaged optical technology, according to the company, boosts server performance. It does this by doubling XPU density in a server rack from 10 chips per rack up to 100 across several racks. Marvell’s cloud hyperscaler clients can use this integrated technology for customizing XPU designs.
Forecasts for the current quarter’s top predictions
The news comes after Marvell posted a current-quarter revenue forecast last month that significantly exceeded Wall Street expectations. Matt Murphy, the Chief Executive Officer of Marvell’s third quarter fiscal earnings call said that Marvell is on course to surpass its prior expectation that sales of AI networks and custom processor chips would reach $2.5billion by fiscal 2026.
Marvell’s shares rose 2% on Monday intraday to $120.22 and are up by more than twice as much in the past 12 months.
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