Marvell Technology: Record $2.4B Quarter, $16.5B FY2028 Target, and the Full-Stack AI Infrastructure Bet

Q1 FY2027 revenue of $2.418 billion grew 28% year-over-year to a new record, as Marvell raised its full-year FY2027 outlook to approximately $11.5 billion and its FY2028 target to $16.5 billion.

Section 01

Quarter at a Glance

Marvell Technology’s fiscal first quarter of 2027 — the three months ending May 2, 2026, reported May 27, 2026 — arrived as a record on every metric that matters and a forward guide that reset investor expectations upward. Total revenue of $2.418 billion, a new company record, grew 28% year-over-year. This was not a quarter …