Marvell CEO Matt Murphy says trust with big tech drove stock surge

Marvell CEO Matt Murphy says trust with big tech drove stock surge

Wed, September 9, 2026 at 4:35 PM GMT+3 2 min read

• MRVL +6.73%
• AVGO -1.41%

Marvell Technology Chairman and CEO Matt Murphy pointed to ten years of cultivating relationships with the biggest names in tech as the foundation for the chipmaker's approximately 241% stock surge over the past year, a period during which rival Broadcom gained just 6.6%.

"In this market, these large hyperscale customers and the ecosystem around it, it's really based on trust," Murphy told CNBC's "Mad Money" on Tuesday. "I think trust has been a huge part of ... our brand and our credibility."

Murphy said hyperscalers require assurance that their chip partners will meet demanding delivery timelines without sacrificing production volume. He framed that reliability across four dimensions. "Can you trust the engineering team and the company is going to deliver the chip?" he said. "Can you trust the management team that they're going to shoot you straight? Can you trust that the capacity and the supply is going to be there, and can you trust the CEO at the end of the day?"

Murphy said that standing has positioned Marvell to serve every major U.S. hyperscaler with custom silicon while moving its optical connectivity products throughout the broader industry, insulating the company from reliance on a single buyer or architecture. "We are basically the Switzerland of this entire market right now, we work with everybody," he said.

Marvell's data center revenue is projected to rise 60% in fiscal 2027. Murphy told the network that the company now expects roughly $12 billion in revenue this year and $18 billion in fiscal 2027, with more than $15 billion of next year's total coming from data centers — up from roughly $2 billion in 2023.

Those partnerships have expanded in recent months. Marvell reached a multi-year custom chip supply agreement with Google in August, a notable win given that Google had long been considered Broadcom's most important custom-chip customer. Earlier this year, Nvidia entered a broader partnership with Marvell that included a $2 billion investment in the company.

Marvell also reported record quarterly revenue of $2.74 billion in its second fiscal quarter, with data center revenue rising 46% year over year to $2.17 billion. Marvell has scheduled an investor day on Oct. 6, where executives are expected to lay out an updated long-term strategic roadmap spanning four to five years.

Murphy also addressed a partnership announced Tuesday between Amazon and rival Qualcomm. "I think it's a competitive market," he said. "We're very confident in our position and how we've evolved in this market across all the U.S. hyperscalers and the entire ecosystem."