Tech
Chipmaker Marvell’s weak data centre forecast prompts AI investors to dump its stock
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Chipmaker Marvell Technology forecast quarterly revenue below market estimates on Thursday, disappointing investors who are accustomed to strong results from artificial intelligence-facing firms and sending its shares down 12% after hours.
Shares of the company – which designs custom chips to power AI workloads for big tech companies including Microsoft and Amazon – have fallen 30% this year, as investors have doubted Marvell’s position in the data centre market.
With investments in AI surging, chipmakers are facing tougher investor scrutiny as Wall…
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