Marvell Technology
MRVLQ2 2024(MRVL Q1 FY2025)Estimated25% AI
AI Revenue %
25%
AI Fair Value
$9.9B
AI Revenue (Q)
$454.4M
Total Revenue (Q)
$1.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Data Center revenue was $816.4M (70% of $1,160.9M total). DC surged from $435.8M YoY, driven almost entirely by AI demand (custom ASICs for hyperscalers, PAM4 DSPs). Management has stated (outside filings) that AI revenue reached ~$1.5B for FY2025, implying a quarterly run rate of ~$375M in earlier quarters ramping higher. Estimating ~35% of DC was AI-related: $816.4M x 0.35 = $285.7M. $285.7M / $1,160.9M = 24.6%, rounded to 25%. Non-AI end markets (enterprise, carrier, consumer) were depressed, concentrating the revenue mix toward DC/AI. No AI-specific revenue disclosure in filing.
Analyzed by claude-opus-4-6
Quoted Figures
Data center $816.4 70%
Note 3 Revenue, net revenue disaggregated by end market, 10-Q for Q ended May 4, 2024
Net revenue $1,160.9
Condensed Consolidated Statements of Operations, 10-Q for Q ended May 4, 2024
AI Products Identified (Ring 1)
Custom AI accelerators (ASICs for hyperscalers)PAM4 DSPs (800G)AI networking electro-opticsAI-optimized storage controllers
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Enterprise networkingCarrier infrastructureTraditional cloud storageConsumer
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix