Marvell shares surge 18% as CEO points to continuing AI demand

marvell Shares rose 18% on Friday as the company posted earnings growth and issued a strong forecast, expecting strong AI demand to continue.

Semiconductor company says it has been fixed earning At 80 cents per share this quarter, it was above the 79 cents per share expected by analysts surveyed by LSEG. The company generated $2.2 billion in revenue in the fourth quarter, beating estimates of $2.1 billion.

“Look at our guided results. Look at our outlook this year. Look at our outlook next year. Do you see me blinking? Don’t you see me blinking,” CEO Matt Murphy told analysts on the earnings release.

The company expects year-over-year revenue growth to accelerate in each quarter of 2027, Murphy said in a statement.

The chipmaker expects revenue of $2.4 billion in the first quarter of 2027, +/-5%. Wall Street was expecting $2.27 billion.

The company’s revenue from data centers in fiscal 2026 exceeded $6 billion, an increase of 46% compared to last year.

CNBC’s Kristina Partsinevelos contributed to this report.