Core Viewpoint - Marvell Technology, Inc is positioned to benefit from AI-driven growth despite a recent decline in stock price, with strong demand and growth prospects highlighted by a JPMorgan analyst [1][2]. AI Demand and Data Center Growth - The outlook for AI at Marvell remains robust, with strong demand and expanding visibility noted during a recent fireside chat with management [2] - Short-term bookings are described as "on fire," and the company continues to see an expanding backlog and revenue visibility despite concerns about potential AI spending slowdowns [2][3]. Revenue Growth from Custom AI Chips - Marvell's custom AI ASIC business is expected to drive significant revenue growth, with projected AI custom revenues of approximately $1.8 billion in 2026, a 20% year-over-year increase, and doubling to $3.6 billion in 2027 [4] - Growth is primarily driven by a strong ramp with Amazon's Trainium 3, which is on track for a $2 billion run rate in the second half of the year [4][5]. Networking Momentum and Strategic Expansion - Strong momentum in networking is highlighted, with optical networking revenues growing faster than overall data center capital expenditures [6] - Marvell is on track to generate $500 million in switching silicon revenue this year, supported by new product launches [6]. - Advanced Ethernet cabling and retimers are scaling quickly, with revenues doubling year-over-year to several hundred million dollars [7]. M&A and Supply Chain Strategy - Marvell is expanding its portfolio through disciplined mergers and acquisitions, including the acquisition of XConn Technologies and Celestial AI, which enhance its capabilities in scale-up switching and photonic fabric technology [8]. - The company is securing supply by building long-term partnerships and aligning demand forecasts with suppliers, positioning itself for sustained AI-driven growth [9].