Marvell Vs. Broadcom: AI Arms Race Heats Up Ahead Of Earnings

The AI boom continues to reshape the semiconductor landscape, and two key players — Marvell Technology Inc MRVL and Broadcom Inc AVGO — are gearing up for their latest earnings reports.

With AI infrastructure spending accelerating and hyperscalers ramping custom silicon deployments, both companies stand to benefit. However, with distinct strategies and product roadmaps, the battle for AI dominance is heating up.

Let's break down what's at stake for each ahead of their earnings results.

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Marvell: Riding The AI Networking Wave

Marvell reports its fourth quarter earnings on March 5 after the bell, and expectations are sky-high. JPMorgan analyst Harlan Sur forecasts January quarter revenue of $1.9 billion. That’s ahead of the $1.801 billion consensus, with April quarter guidance expected to surpass $2 billion.

AI momentum remains the key driver, particularly with the Trainium 2 ASIC ramp at AWS and increasing demand for 800G/1.6T AI optical networking products. Sur expects AI revenues to more than double this year, exceeding $3.5 billion. While competition looms with Amazon.com Inc's AMZN next-gen 3nm AI ASIC, Marvell's multi-generational partnership with AWS keeps it well-positioned for growth.

Broadcom: Prepping For A Major 2H AI Surge

Broadcom reports first quarter earnings on March 6, with Sur expecting a solid beat. He projects January quarter revenue of $14.7 billion, slightly ahead of consensus ($14.6 billion). While April quarter guidance may be flattish to slightly up at $14.7–$14.9 billion, Broadcom's AI business is gearing up for a significant second-half ramp.

The TPU v6 3nm training chip with Alphabet Inc’s GOOGL GOOG Google is set to drive a sharp revenue increase, with AI revenues projected to cross $17 billion in FY25, a 40%+ year-over-year jump.

AI networking and custom ASICs remain the core catalysts, alongside Broadcom's VMware integration, which unlocks additional growth avenues.

The AI Showdown: Who Comes Out On Top?

Sur remains bullish on both stocks, calling them top picks in AI infrastructure. With hyperscalers doubling down on custom ASIC adoption and AI networking demand accelerating, Marvell and Broadcom are poised for strong years ahead.

As the earnings showdown unfolds, investors will be watching to see which chip giant cements its lead in the AI race.

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