Shares of Marvell Technology surged to a record high on Wednesday, as the semiconductor firm eclipsed a market capitalization of $100 billion for the first time after reporting better-than-expected earnings and an expanded deal with Amazon to collaborate on cloud software and hardware.

Marvell Technology reported upbeat earnings amid exciting earnings season. Analysts raised their price targets, expecting strong growth.

We recommend a 'Strong Buy' for Marvell Technology due to robust growth in custom silicon solutions and expanded partnership with Amazon AWS. See more on MRVL.

Marvell Technology, Inc. (NASDAQ:MRVL) will release earnings results for the third quarter, after the closing bell, on Tuesday, Dec. 3. Analysts expect the Wilmington, Delaware-based company to report quarterly earnings at 41 cents per share.

Marvell’s stock is up 21% in morning action Wednesday and on track for its best day since it rose 32% on May 26, 2023. Read: Marvell’s stock rises on strong AI demand, but thi

Marvell's strong Q3 results show growth fueled by AI focus and data center revenue, making it a compelling buy for AI exposure.

Shares were up 20% on Wednesday as Wall Street analysts welcomed the chip designer’s earnings for the October quarter.

Chief Executive Matt Murphy, for his part, said that “the exceptional performance” in the fiscal third quarter and the outlook for the current quarter are mostly thanks to Marvell’s AI silicon programs and “robust ongoing demand” from cloud customers.

This Artificial Intelligence (AI) Chip Stock Is Going to Skyrocket After Dec. 3 Meet the Newest Stock in the Nasdaq. It's Soared 918% Since Last Year, and It's Still a Buy Right Now, According to Certain Wall Street Analysts.