The following is a summary of the Marvell Technology, Inc. (MRVL) Q3 2025 Earnings Call Transcript:

Financial Performance:

• Marvell Technology reported Q3 2025 revenue of $1.516 billion, a growth of 7% year-over-year and 19% sequentially, driven by strong demand in AI and custom silicon.

• Non-GAAP earnings per share stood at $0.43, marking a significant growth of 43% sequentially, highlighting substantial operating leverage.

• The company reported that the data center segment generated record revenue of $1.1 billion, escalating 98% year-over-year and 25% sequentially.

Business Progress:

• Announced a strategic expansion with AWS through a multi-generational five-year agreement, bolstering its position in data center semiconductors across custom AI products and optical DSPs.

• Achieved significant growth in custom AI silicon, with ongoing projects such as the ramp of complex 100 billion-plus transistor chips.

• Introduced the industry's first 3-nanometer 1.6T DSP, expecting to enhance energy efficiency significantly and maintain industry leadership in electro-optics.

Opportunities:

• The wide portfolio of data center semiconductors, including AI solutions and custom products, present growth opportunities, particularly through the strategic partnership with Amazon Web Services.

• Product innovations, especially in the electro-optics market, with the launch of the industry's first 1.6T DSP and future advancements in 3-nanometer technology.

Risks:

• The ASICs market is highly competitive, with a notable emphasis on delivering leading-edge technology. This competitive pressure requires continuous significant investment in R&D and operational execution to maintain and grow market share.

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