Marvell Technology reported fiscal second-quarter 2027 revenue of $2.739 billion, up 37% from a year earlier, and raised full-year guidance for a second consecutive quarter. Management now expects fiscal 2027 revenue of approximately $12 billion, or roughly 45% growth, and about $18 billion in fiscal 2028, implying around 50% growth on that higher base. The data center segment drove the results, contributing $2.17 billion in Q2 sales, a 46% year-over-year increase and 79% of total revenue, fueled by custom AI silicon, high-speed interconnects, switching and optical products tied to hyperscaler AI infrastructure spending. CEO Matt Murphy called custom AI silicon bookings exceptionally robust on the August 27 earnings call; that business generated $1.5 billion in fiscal 2026, and analysts expect it to more than double by fiscal 2028, with the ramp accelerating in the back half of fiscal 2027. For fiscal Q3 2027, Marvell guided to about $3.15 billion in revenue, more than 50% growth year over year. An expanded custom silicon agreement with Google includes a warrant allowing Google to acquire up to 7% of Marvell shares if milestones are met, a structure that helped push shares lower after the report amid questions on dilution and when Google-related revenue will flow through.