Marvell Technology (NASDAQ: MRVL<\/a>) and Broadcom (NASDAQ: AVGO<\/a>) both just posted AI-driven blowouts, but the businesses behind the tickers look nothing alike. <\/p>\n Marvell reported $2.74 billion in Q2 FY2027 revenue on August 27. Broadcom, three months earlier, delivered $22.19 billion. Same tailwind, wildly different scale, and two very different bets on how hyperscalers will spend. <\/p>\n Custom Silicon Lifts Both, but Not Equally <\/p>\n Marvell’s data center segment ran to $2.17 billion, up 46% year over year, and now makes up 79% of total revenue. CEO Matt Murphy called out “strong tailwinds across each of our data center businesses, including interconnect, switching, and custom”, and pointed to 1.6T optical DSPs ramping fast plus scale-out switching that should more than double this year. <\/p>\n Broadcom’s number is on another planet. AI semiconductor revenue alone hit $10.8 billion, up 143% year over year, with bookings of over $30 billion in the quarter. Hock Tan described demand for XPUs and networking as “simply insatiable”. That is a striking word choice from a CEO usually careful with adjectives. <\/p>\n Free Report, Just Released <\/p>\n Did Any of Your Stocks Make the Top 10 List? <\/p>\n It is an uncomfortable question, and there is now an answer to it. <\/p>\n 24\/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now.<\/a> <\/p>\n Open your account and look at what you own. Some of it you bought for a reason you could still defend today. Some of it you bought years ago for a reason you can no longer remember. <\/p>\n The report is free. Put the ten next to what you own and find out which is which. <\/p>\n Enter Your Email and See the Ten \u2192<\/a> <\/p>\n Free from 24\/7 Wall St. It lands in your inbox. <\/p>\n Business Driver <\/p>\n Marvell <\/p>\n Broadcom <\/p>\n Latest quarterly revenue <\/p>\n $2.74B <\/p>\n $22.19B <\/p>\n AI\/data center growth YoY <\/p>\n 46% <\/p>\n 143% <\/p>\n Non-GAAP operating margin <\/p>\n 36.6% <\/p>\n ~67% <\/p>\n Dividend per share (quarterly) <\/p>\n $0.06 <\/p>\n $0.65 <\/p>\n Story Continues <\/p>\n Focused Bet vs. Diversified Machine <\/p>\n Marvell is doubling down. Management sold the automotive Ethernet business to Infineon for $2.5 billion, then bought Celestial AI and XConn to attack scale-up optics and chiplet interconnect. An expanded warrant deal with Google now covers inference accelerators, storage controllers, NICs, memory interface controllers, and near-memory compute tied to the TPU ecosystem. <\/p>\n Murphy told analysts “starting in FY29 beyond whatever you’ve modeled previously prior to the warrant for Custom Numbers definitely goes higher”. That is a big promise resting on one relationship. <\/p>\n Broadcom is spreading the same bet across four hyperscalers. Tan detailed multi-generational programs with Google, Anthropic (6 gigawatts through 2027), OpenAI (10 gigawatts by 2029), and Meta (3 gigawatts through 2028). <\/p>\n Add VMware, which grew 9% year-over-year to $7.18 billion at 93% gross margin, and the picture is a semiconductor giant with a software annuity most peers cannot match. <\/p>\n Concentration Risk Cuts Both Ways <\/p>\n What I am watching next is customer breadth. Marvell’s 79% data center concentration and the Google-heavy warrant mean one hyperscaler’s roadmap change could reshape the story. <\/p>\n Broadcom’s fiscal 2027 target of AI revenue in excess of $100 billion is enormous, and any slip from OpenAI or Meta deployment timelines would sting. Marvell’s October 6 Investor Day should quantify the Google upside. Broadcom reports Q3 on September 2, which will test whether the $16 billion AI quarter actually lands. <\/p>\n Broadcom’s Margin of Safety vs. Marvell’s Torque <\/p>\n On the fundamentals, Broadcom screens as the lower-risk exposure. Its 46% free cash flow margin, the VMware software cushion, and a forward P\/E of 20 versus Marvell’s 60 imply a wider margin of safety while the AI capex cycle plays out (the same buildout is lifting the power, cooling, and networking suppliers we profiled in a free report on seven AI infrastructure names outside the chipmakers). <\/p>\n Marvell offers more torque; shares are up 155.27% year to date versus AVGO’s 6.95%, and if the Google warrant delivers, FY29 estimates move meaningfully higher. Growth-tilted investors comfortable with concentration risk have a clearer setup in Marvell, while Broadcom’s scale, cash generation, and quarterly $0.65 dividend anchor the diversified case. <\/p>\n Got $1,000? Before You Buy Another Stock, Read This <\/p>\n If you have cash sitting in your account right now, give this two minutes. 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<\/a> MRVL Price Target \u2014 24\/7 Wall St. <\/p>\n
<\/a> AVGO Price Target \u2014 24\/7 Wall St. <\/p>\n