Marvell Technology shares fell 7.6% in pre-market trading Monday after Anthropic CEO Dario Amodei called for a measured pause in advanced AI development. OpenAI’s Sam Altman and Elon Musk backed the proposal, raising concerns that slower frontier AI expansion could reduce demand for specialized processors and data-center infrastructure. The selloff spread to Asian chipmakers and European semiconductor equipment producers, while the tech-heavy Nasdaq fell 1.9%; enterprise software stocks gained as investors rotated away from hardware. An impending Federal Reserve rate announcement added pressure to technology shares, particularly richly valued names such as MRVL. Bank of America reaffirmed its Buy rating and $365 price target after meeting Marvell CEO Matt Murphy and CFO Dan Durn. Based on Marvell’s September 11 close of $236.10, the target implies about 55% potential appreciation. Analyst Vivek Arya expects Marvell’s connectivity, memory-management and data-transfer chips to complement custom processors supplied to all four leading U.S. cloud providers. Bank of America estimates the supporting-chip market could exceed $60 billion to $65 billion by the end of the decade, with a 40% to 50% share potentially generating about $30 billion in annual revenue for Marvell. Including custom processors, the firm sees a $40 billion to $45 billion revenue opportunity by 2030, above management’s $3 billion to $4 billion-plus projection for 2028. Risks include possible delays to next-generation projects from Amazon and Microsoft, competition from Broadcom, the purchase-linked structure of Marvell’s Google collaboration and potential dilution from the exercise of approximately 59 million warrants. Investors will focus on Marvell’s October 6 analyst day for production, profitability and customer deployment details. Before Monday’s decline, MRVL had gained more than 160% in six months and nearly 12% through September 11, while Nvidia fell more than 5% over the same period.