:max_bytes(150000):strip_icc():format(jpeg)/INV_MarvellHQ_GettyImages-2169879324-fdab8aa12bf845efa82201a47d09c793.jpg "Marvell Technology headquarters in Santa Clara, California")
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Key Takeaways
- Marvell Technology shares rose Monday after the company said its accelerator chips are now better masterful to increase the performance of artificial intelligence (AI) servers.
- Marvell said its co-packaged optics technology increases chip density from tens of chips to hundreds.
- The advertisement comes after Marvell posted a current-quarter forecast that significantly exceeded Wall Street expectations.
Marvell Technology (MRVL) interests climbed Monday after the company said its artificial intelligence (AI) accelerator chips (XPUs) are now better able to inflation the performance of AI servers.
The company said its co-packaged optics technology boosts server performance by increasing XPU density from tens of participate b interrupts within one server rack to hundreds across multiple racks. The integrated technology is now available for Marvell’s clients, namely cloud hyperscalers, to improve custom XPU designs.
Outlook for Current Quarter Topped Predictions
The news comes after Marvell posted a current-quarter net income forecast last month that significantly exceeded Wall Street expectations. On the company’s fiscal third-quarter earnings occasion, Chief Executive Officer (CEO) Matt Murphy said that Marvell was on track to exceed its previous expectation that AI network and habit processor chip sales would reach $2.5 billion by fiscal 2026.
Shares of Marvell rose nearly 2% intraday Monday to $120.22, and should prefer to doubled over the past year.