Marvell Technology
MRVLQ4 2024(MRVL Q3 FY2025)Estimated32% AI
AI Revenue %
32%
AI Fair Value
$14.8B
AI Revenue (Q)
$1.3B
Total Revenue (Q)
$4.1B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Data Center revenue was $1,101.1M (73% of $1,516.1M total). DC crossed $1B for the first time driven by AI demand. The Fiscal 2025 Plan restructuring confirmed Marvell is 'increas[ing] research and development investment in the data center end market and reduc[ing] investment in new product development in other end markets.' Estimating ~45% of DC was AI-related: $1,101.1M x 0.45 = $495.5M. $495.5M / $1,516.1M = 32.7%, rounded to 32%. Context: management stated AI exceeded $1.5B for full FY2025, and AI was accelerating through the year. No AI-specific revenue disclosure in filing.
Analyzed by claude-opus-4-6
Quoted Figures
Data center $1,101.1 73%
Note 3 Revenue, net revenue disaggregated by end market, 10-Q for Q ended Nov 2, 2024
Net revenue $1,516.1
Condensed Consolidated Statements of Operations, 10-Q for Q ended Nov 2, 2024
A restructuring plan was initiated during the third quarter of fiscal 2025... to increase research and development investment in the data center end market and reduce investment in new product development in other end markets
Note 4 Restructuring, 10-Q for Q ended Nov 2, 2024
AI Products Identified (Ring 1)
Custom AI accelerators (ASICs for hyperscalers)PAM4 DSPs (800G/1.6T)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