marvel technology CEO Matt Murphy said one of the keys to the company’s massive performance over the past year was something that took a decade to build: trust with the world’s largest technology companies.
Marvell’s stock price is up about 241% over the past 12 months, compared to just 6.6% for its competitors. broadcomthe company deepened its relationships across the artificial intelligence ecosystem, including key partnerships with. Nvidia March and google In August.
“In this market, our large hyperscale customers and the ecosystem around it, it’s really about trust,” Murphy said Tuesday on CNBC’s “Mad Money.” “I think trust has been a big part of our brand and credibility.”
He said hyperscalers need confidence that suppliers can deliver increasingly complex chips on time and at scale. This is the fuel playbook AMD’s After taking over as CEO in October 2014, business turned around under Lisa Su, who made consistent product execution and on-time delivery a top priority.
“Can we trust the engineering team and is the company going to deliver the chips?” Murphy said. “Can you believe that management is going to attack you head-on? Can you believe that the production capacity and supply will be there? And can you ultimately trust the CEO?”
Murphy said its reputation allows Marvell to work across the AI ecosystem, rather than relying on a particular customer or chip architecture. He noted that the company supplies custom silicon to all four major hyperscalers in the United States and sells optical connectivity products widely across the industry.
“Right now, we’re basically the Switzerland of this entire market, working with every country,” Murphy said.
These relationships have fueled Marvell’s explosive growth, with data center revenue expected to grow 60% in fiscal 2027 and accelerate slightly to 61% in fiscal 2028, according to FactSet. Investors can expect to hear more about Marvell’s long-term financial goals when the company holds an investor day in early October.
Marvell scored a big win in August when it announced a multiyear technology supply agreement with Google, long considered Broadcom’s most important customer for custom chips. But Marvel’s new partnership with its own longtime customer… Amazonand rival Qualcomm On Tuesday, it highlighted competition in the hyperscaler business. When asked about the deal by CNBC’s Jim Cramer, Murphy dismissed concerns about Marvel’s position.
“I think it’s a competitive market,” Murphy said. “We are very confident in our position and evolution in this market across all hyperscalers and ecosystems in the United States.”
