Marvell Stock Soars 23% as Strong Demand for Custom Artificial Intelligence (AI) Chips Drives Q3 Results and Guidance Above Expectations

The chipmaker's CEO said management expects "substantial momentum to continue" in the next fiscal year.Shares of Marvell Technology (MRVL 23.19%) surged 23.2% on Wednesday following the data infrastructure semiconductor specialist's release on the prior afternoon of its report for the third quarter of its fiscal year 2025 (ended Nov. 2, 2024). Investors' positive reaction can be attributed to the quarter's revenue and earnings beating Wall Street's consensus estimates, and fourth-quarter guidance for both t ...