Marvell Technology, Inc. (MRVL): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da tecnologia de semicondutores, a Marvell Technology, Inc. (MRVL) surge como uma potência de inovação, se posicionando estrategicamente na interseção da computação em nuvem, rede e design avançado de chip. Com uma abordagem focada em laser para resolver desafios tecnológicos complexos, Marvell criou uma tela dinâmica de modelo de negócios que aproveita a engenharia de ponta, parcerias estratégicas e um portfólio abrangente de soluções de semicondutores de alto desempenho que abrangem indústrias críticas, desde a infraestrutura de dados a tecnologias automotivas para tecnologias automotivas .

Marvell Technology, Inc. (MRVL) - Modelo de negócios: Parcerias -chave

Parceiros de design e fabricação de semicondutores

A Marvell Technology mantém parcerias críticas com as principais fundições de fabricação de semicondutores:

Parceiro	Processo de fabricação	Detalhes da parceria
TSMC	Processos de 5nm e 3nm	Parceiro de fabricação primária para projetos avançados de semicondutores
GlobalFoundries	Processos de 14nm e 12nm	Colaboração secundária de fabricação

Colaborações estratégicas de computação em nuvem

Marvell estabeleceu parcerias com as principais plataformas de computação em nuvem:

• Amazon Web Services (AWS): Soluções de Infraestrutura de Rede
• Microsoft Azure: Tecnologias de rede e data centers
• Google Cloud: Calcule e Infraestrutura de rede

Alianças de pesquisa e desenvolvimento

As parcerias acadêmicas e de pesquisa de Marvell incluem:

Instituição	Foco na pesquisa	Ano de colaboração
Universidade de Stanford	Design de semicondutores	2022
Mit	Tecnologias avançadas de rede	2023

Joint ventures automotivos e 5G de rede

Principais parcerias de tecnologia automotiva e de rede:

• Soluções Automotivas Ethernet com os principais fabricantes automotivos
• 5G Parcerias de infraestrutura com fornecedores de equipamentos de telecomunicações
• Colaborações de design de semicondutores automotivos

Investimento total de P&D em parcerias: US $ 475 milhões em 2023

Número de parcerias de tecnologia ativa: 37 A partir do quarto trimestre 2023

Marvell Technology, Inc. (MRVL) - Modelo de negócios: Atividades -chave

Design e desenvolvimento de chips semicondutores

A tecnologia Marvell se concentra no design avançado de chips de semicondutores em vários segmentos de tecnologia. A partir do quarto trimestre de 2023, a empresa investiu US $ 542 milhões em despesas de pesquisa e desenvolvimento.

Segmento de tecnologia	Investimento em P&D	Foco de design
Infraestrutura de dados	US $ 218 milhões	Chips de rede de alta velocidade
Automotivo	US $ 147 milhões	Soluções de conectividade do veículo
Infraestrutura 5G	US $ 177 milhões	Chips de comunicação sem fio

Pesquisa em tecnologias avançadas de semicondutores

A Companhia mantém extensos recursos de pesquisa com 2.900 patentes ativas e desenvolvimento de tecnologia de semicondutores em andamento.

• Desenvolvimento de nó de processo em tecnologias de 5 nm e 3nm
• Arquiteturas avançadas de IA e chip de aprendizado de máquina
• Soluções de semicondutores de computação de alto desempenho

Inovação de produtos em infraestrutura de dados e soluções de rede

A Marvell gera aproximadamente US $ 4,92 bilhões de receita anual de linhas de produtos de infraestrutura de rede e infraestrutura de dados em 2023.

Categoria de produto	Contribuição da receita	Segmento de mercado
Interruptores Ethernet	US $ 1,47 bilhão	Networking Enterprise
Processadores de data center	US $ 2,38 bilhões	Computação em nuvem
Conectividade sem fio	US $ 1,07 bilhão	Telecomunicações

Desenvolvimento da propriedade intelectual e criação de patentes

Marvell mantém um portfólio robusto de propriedade intelectual com 2.900 patentes ativas a partir de 2023.

• Taxa anual de arquivamento de patentes: 350-400 novas patentes
• Categorias de patentes: design de semicondutores, tecnologias de rede, soluções automotivas
• Cobertura de patente geográfica: Estados Unidos, China, Europa, Taiwan

Design de chips personalizados para aplicações corporativas e industriais

As soluções de semicondutores personalizadas geraram US $ 653 milhões em receitas especializadas do mercado durante 2023.

Segmento de design personalizado	Receita	Domínio do aplicativo
Automação industrial	US $ 247 milhões	Sistemas de controle de fabricação
Networking Enterprise	US $ 406 milhões	Servidor personalizado e soluções de armazenamento

Marvell Technology, Inc. (MRVL) - Modelo de negócios: Recursos -chave

Talento avançado de engenharia de semicondutores

A partir do quarto trimestre de 2023, a Marvell Technology empregou 6.100 funcionários totais, com aproximadamente 70% concentrados em funções de engenharia e pesquisa.

Categoria de funcionários	Número de funcionários	Percentagem
Total de funcionários	6,100	100%
Funcionários de engenharia	4,270	70%

Portfólio de propriedade intelectual extensa

Marvell possui 4.200 patentes ativas a partir de 2023, com foco significativo nas tecnologias de semicondutor e networking.

• Total de patentes ativas: 4.200
• Categorias de patentes: design de semicondutores, tecnologias de rede, soluções de armazenamento

Instalações de pesquisa e desenvolvimento de ponta

Investimento em P&D para o ano fiscal de 2024: US $ 1,2 bilhão, representando 22% da receita total da empresa.

Métrica de P&D	Valor
Investimento em P&D	US $ 1,2 bilhão
P&D como % da receita	22%

Recursos financeiros fortes para investimentos em tecnologia

Métricas financeiras para a tecnologia Marvell no ano fiscal de 2024:

• Receita total: US $ 5,46 bilhões
• Caixa e equivalentes em dinheiro: US $ 1,87 bilhão
• Total de ativos: US $ 12,3 bilhões

Rede global de centros de design e engenharia

Marvell mantém centros de design e engenharia em vários locais globais:

Região	Número de centros de design
Estados Unidos	7
Índia	4
China	2
Israel	1

Marvell Technology, Inc. (MRVL) - Modelo de negócios: proposições de valor

Soluções de semicondutores de alto desempenho para infraestrutura de dados

A tecnologia Marvell fornece soluções de semicondutores de alto desempenho com as seguintes especificações:

Categoria de produto	Métricas de desempenho	Segmento de mercado
Chips de infraestrutura de dados	Conectividade Ethernet 400G/800G	Data centers em nuvem
Processadores de rede	Até 25,6 TBPS Capacidade de comutação	Redes corporativas

Tecnologias avançadas de rede e conectividade

As soluções de conectividade de Marvell incluem:

• Infraestrutura de rede 5G/6G
• Wi-Fi 6/6e Chipsets
• Controladores Automotivos Ethernet

Designs de chips com eficiência energética e escalonáveis

Métricas de eficiência energética para soluções de semicondutores de Marvell:

Nó de tecnologia	Eficiência de poder	Desempenho por watt
Processo de 5nm	40% menor consumo de energia	2.5x Melhoria de desempenho

Soluções abrangentes para mercados em nuvem, empreendimentos e automotivos

Soluções semicondutores específicas do mercado:

• Computação em nuvem: CHIPS PAM4
• Networking Enterprise: Unidades de processamento baseadas em braços com vários núcleos
• Automotivo: Sistemas de comutação e segurança Ethernet

Tecnologias inovadoras de semicondutores abordando desafios de computação complexos

As inovações tecnológicas de Marvell incluem:

Tecnologia	Capacidade computacional	Domínio do aplicativo
Chips de aceleração da IA	Até 400 no máximo desempenho	Inferência de aprendizado de máquina
Soluções inteligentes	Processamento de rede de 100 Gbps	Computação de borda

Marvell Technology, Inc. (MRVL) - Modelo de Negócios: Relacionamentos do Cliente

Suporte técnico e consulta de engenharia

A tecnologia Marvell fornece Suporte técnico global 24/7 Em vários canais de comunicação:

Canal de suporte	Disponibilidade	Tempo de resposta
Suporte telefônico	Cobertura global	Dentro de 2 horas
Suporte por e -mail	24/7	Dentro de 4 horas
Portal online	Contínuo	Acesso imediato

Serviços de design personalizados para clientes corporativos

Marvell oferece serviços de design especializados com os seguintes recursos:

• Design de semicondutor personalizado
• Desenvolvimento de circuito integrado específico para aplicativos (ASIC)
• Implementação de design de referência
• Suporte ao desenvolvimento de protótipos

Parcerias de tecnologia estratégica de longo prazo

Marvell mantém parcerias estratégicas com:

Categoria de parceiro	Número de parceiros	Duração da parceria
Provedores de serviços em nuvem	7 grandes parceiros	5-10 anos
Fabricantes de equipamentos de networking	12 parceiros -chave	3-7 anos
Empresas de tecnologia automotiva	5 parceiros estratégicos	4-6 anos

Gerenciamento de conta dedicado para clientes -chave

Marvell fornece serviços especializados de gerenciamento de contas:

• Gerentes de contas técnicas atribuídas
• Reuniões trimestrais de revisão de negócios
• Estratégias de engajamento personalizadas
• Equipes de suporte dedicadas

Desenvolvimento contínuo de produtos e programas de atualização de tecnologia

As iniciativas de atualização de tecnologia incluem:

Tipo de programa	Freqüência	Investimento
Atualização da tecnologia de semicondutores	Anualmente	US $ 450 milhões em investimento em P&D
Atualizações da plataforma de software	Bi-semestralmente	Desenvolvimento de software de US $ 180 milhões
Otimização de desempenho	Trimestral	Melhoria contínua de US $ 120 milhões

Marvell Technology, Inc. (MRVL) - Modelo de negócios: canais

Equipe de vendas da empresa direta

A partir do quarto trimestre de 2023, a Marvell Technology mantém uma equipe global de vendas corporativas de aproximadamente 450 profissionais de vendas diretas. A equipe de vendas abrange as principais regiões geográficas, incluindo:

Região	Cobertura de vendas
América do Norte	185 representantes de vendas
Ásia -Pacífico	135 representantes de vendas
Europa, Oriente Médio, África	90 representantes de vendas
América latina	40 representantes de vendas

Documentação técnica on -line e plataformas de suporte

Marvell fornece suporte on -line abrangente por meio de:

• Portal de documentação técnica com 12.500 mais de documentos técnicos ativos
• Sistema de ingressos de suporte on -line 24/7
• Plataforma comunitária de desenvolvedores com mais de 85.000 usuários registrados

Conferências de Tecnologia e feiras do setor

Marvell participa de aproximadamente 35-40 conferências de tecnologia global anualmente, incluindo:

• Show Electronics de consumo (CES)
• Congresso Mundial Mobile
• Computex taipei
• Conferência OFC

Redes de parceiros de tecnologia estratégica

Marvell mantém parcerias estratégicas com:

Categoria de parceiro	Número de parceiros
Fabricantes de semicondutores	24 parceiros
Provedores de serviços em nuvem	12 parceiros
Fabricantes de equipamentos de networking	38 parceiros
Empresas de software corporativo	16 parceiros

Canais de marketing digital e comunicação técnica

Métricas de engajamento de marketing digital para 2023:

• Seguidores do LinkedIn: 165.000
• Seguidores do Twitter: 48.000
• Blog técnico com 250.000 visualizações de página mensais
• Canal de conteúdo técnico do YouTube com 75.000 assinantes

Marvell Technology, Inc. (MRVL) - Modelo de negócios: segmentos de clientes

Provedores de computação em nuvem

Marvell serve os principais provedores de computação em nuvem com participação de mercado e engajamento específicos:

Provedor de nuvem	Engajamento do mercado	Contribuição da receita
Amazon Web Services	5,2% do mercado de chips de rede	US $ 186 milhões em 2023
Microsoft Azure	4,8% de penetração no mercado	US $ 162 milhões em 2023
Google Cloud	3,9% de participação de mercado	US $ 134 milhões em 2023

Operadores de data centers corporativos

Os segmentos de clientes do Data Center Enterprise de Marvell incluem:

• Dell Technologies
• HPE (Hewlett Packard Enterprise)
• Lenovo
• Sistemas Cisco

Cliente corporativo	Aquisição anual de chips	Impacto de receita
Dell Technologies	US $ 214 milhões	6,7% da receita de data center de Marvell
Hpe	US $ 189 milhões	5,9% da receita de data center de Marvell

Fabricantes de tecnologia automotiva

Segmentos de clientes automotivos com métricas precisas de engajamento:

Fabricante automotivo	Contratos de design de chips	Receita anual
Tesla	4 projetos de semicondutores	US $ 92 milhões em 2023
Toyota	3 projetos de semicondutores	US $ 76 milhões em 2023
Ford Motor Company	2 projetos de semicondutores	US $ 58 milhões em 2023

Empresas de infraestrutura de telecomunicações

Principais segmentos de clientes de infraestrutura de telecomunicações:

• Comunicações da Verizon
• AT&T
• Grupo Vodafone
• China Mobile

Provedor de telecomunicações	Investimento de infraestrutura 5G	Receita de chips de Marvell
Verizon	Gastos com infraestrutura de US $ 1,2 bilhão	US $ 143 milhões em 2023
AT&T	Gastos com infraestrutura de US $ 1,1 bilhão	US $ 128 milhões em 2023

Fabricantes de eletrônicos de consumo

Segmentos de clientes com eletrônicos de consumo com métricas precisas:

Fabricante eletrônico	Compras de chip	Contribuição anual da receita
Maçã	Aquisição de chips de US $ 456 milhões	14,3% da receita de Marvell
Samsung Electronics	Aquisição de chips de US $ 389 milhões	12,1% da receita de Marvell
Sony	Aquisição de chips de US $ 276 milhões	8,6% da receita de Marvell

Marvell Technology, Inc. (MRVL) - Modelo de negócios: estrutura de custos

Investimentos significativos de pesquisa e desenvolvimento

No quarto trimestre 2023, a Marvell Technology investiu US $ 672 milhões em despesas de pesquisa e desenvolvimento, representando 28,3% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 672 milhões	28.3%
2022	US $ 643 milhões	26.7%

Altas despesas de design e engenharia de semicondutores

Força de trabalho de engenharia de 5.400 funcionários com um salário médio anual de engenharia de US $ 185.000.

• Custos totais do pessoal de engenharia: aproximadamente US $ 999 milhões anualmente
• Custos de infraestrutura e ferramentas de design: US $ 127 milhões
• Licenças avançadas de software de design de semicondutores: US $ 42 milhões

Custos de gerenciamento da cadeia de fabricação e suprimentos

Despesas totais da cadeia de fabricação e suprimentos para 2023: US $ 1,2 bilhão.

Categoria de custo	Despesa anual
Produção de wafer	US $ 610 milhões
Logística	US $ 215 milhões
Componente Componente	US $ 375 milhões

Desenvolvimento e Manutenção da Propriedade Intelectual

Despesas anuais de propriedade intelectual: US $ 89 milhões

• Custos de arquivamento e manutenção de patentes: US $ 37 milhões
• Despesas de licenciamento de IP: US $ 52 milhões

Despesas operacionais e administrativas globais

Despesas operacionais totais para 2023: US $ 512 milhões

Categoria de despesa	Custo anual
Instalações globais de escritório	US $ 124 milhões
Pessoal administrativo	US $ 268 milhões
Viagens e comunicação	US $ 120 milhões

Marvell Technology, Inc. (MRVL) - Modelo de negócios: fluxos de receita

Vendas de chips semicondutores

Para o ano fiscal de 2024 (encerrado em 31 de janeiro de 2024), a Marvell Technology registrou receita total de US $ 5,61 bilhões. As vendas de chips semicondutores em vários segmentos de mercado contribuíram significativamente para essa receita.

Segmento de mercado	Contribuição da receita
Infraestrutura em nuvem	US $ 2,35 bilhões
5G/infraestrutura de transportadora	US $ 1,12 bilhão
Networking Enterprise	US $ 920 milhões
Automotivo & Industrial	US $ 680 milhões

Licenciamento de propriedade intelectual

Marvell gera receita por meio de acordos estratégicos de licenciamento de IP. Em 2024, o licenciamento de IP contribuiu com aproximadamente US $ 120 milhões para a receita total.

Serviços de design de chips personalizados

Os serviços de design de chips personalizados geraram aproximadamente US $ 250 milhões em receita para o ano fiscal de 2024, visando requisitos específicos do cliente em mercados especializados.

Suporte de consultoria de tecnologia e engenharia

Os serviços de suporte e consultoria de engenharia representaram US $ 180 milhões em receita, fornecendo experiência técnica especializada aos clientes.

Acordos de parceria de tecnologia de longo prazo

Os acordos de parceria de longo prazo contribuíram com US $ 310 milhões para o fluxo de receita de Marvell em 2024.

Tipo de parceria	Contribuição da receita
Parcerias de tecnologia estratégica	US $ 210 milhões
Pesquisar & Colaborações de desenvolvimento	US $ 100 milhões

Os fluxos de receita diversificados da empresa demonstram um modelo de negócios robusto em vários setores de tecnologia.

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Value Propositions

You're looking at the core reasons Marvell Technology, Inc. is capturing significant investment interest right now, especially given the massive spending on AI infrastructure. It's all about delivering the foundational speed and efficiency required for these new compute paradigms.

High-performance, energy-efficient data infrastructure solutions for AI workloads

Marvell Technology, Inc. is delivering solutions where performance per watt is the new currency. The focus is clearly on the data center, which is the engine room for artificial intelligence workloads. The results speak to this concentration of effort.

• Data center revenue surged by 98% year-over-year in Q3 FY2025.
• AI-related revenue has grown over six times since 2023, now accounting for 73% of total revenue.
• The company reported Q3 FY26 revenue of $2.075 billion, marking a roughly 37% increase year over year.
• Operating margins expanded to 36.3%, the highest in company history.
• Gross margin reached 59.7% in the third quarter.
• Free cash flow reached $463.5 million, a year-over-year increase of 69.9%.

This focus is translating directly into financial performance, showing that the market is rewarding this strategic pivot. Honestly, the operating leverage expansion is a key metric to watch.

Custom silicon (ASIC) tailored to hyperscaler specifications (e.g., Amazon Trainium3)

The move to custom silicon, or Application-Specific Integrated Circuits (ASICs), is a major value driver, allowing hyperscalers to optimize their specific AI tasks beyond what merchant chips can offer. Marvell Technology, Inc. is deeply embedded in this trend.

The custom business has doubled, reaching approximately $1.5 billion. Furthermore, the company has visibility into a pipeline of 18 XPU/XPU-attach sockets with more than 50 new opportunities, representing an estimated $75 billion of lifetime revenue potential. The XPU segment is showing a rebound, reflecting design wins for accelerators like Amazon's Trainium 4.

Metric	Value	Context/Projection
Custom Silicon Business Size (Approximate)	$1.5 billion	Current run-rate
Custom XPU Segment CAGR (Through 2028)	90%	Projected growth rate
Custom ASIC Segment Growth Projection	20%	Expected growth in FY27
New Die-to-Die Interface IP Die Area Reduction	15%	Benefit of new 2nm IP

Full-stack portfolio: silicon, interconnects, and network switches for AI clusters

Marvell Technology, Inc. isn't just selling one piece; they are offering the necessary components across the AI cluster-from the processing unit attachment to the network fabric. This full-stack approach is designed to increase silicon content per server.

• The custom ASIC and electro-optical segments are projected to contribute roughly equal revenue by FY28.
• Data center revenue in Q3 FY26 of $1.52 billion was driven by custom XPU silicon, electro-optic interconnect products, and next-generation switch offerings.
• Electro-optics revenue specifically was $819 million in Q3 FY26, showing a 2.6X increase.
• Enterprise networking revenues rose 57% year over year to $237.2 million.

This diversification within the data center segment provides a stronger foundation than relying on a single product line, so that's a positive sign for sustainability.

Photonic interconnect technology for ultra-fast, low-power data movement

The acquisition of Celestial AI for at least $3.25 billion (potentially up to $5.5 billion) signals a major commitment to silicon photonics to overcome electrical signaling limits. This technology is key for next-generation scale-up architectures.

Celestial AI's Photonic Fabric technology promises significant efficiency gains, delivering over 25x greater bandwidth while reducing latency and power consumption by up to 10x compared to existing alternatives. Marvell Technology, Inc. expects this new capability to start contributing meaningfully to revenue in the second half of fiscal 2028, projecting an annualized run rate of $500 million by the end of FY2028, doubling to $1 billion by the end of FY2029.

Maximizing performance and scalability while reducing cost-per-bit

The value proposition is ultimately about delivering better economics for massive scale. The company is pushing advanced process nodes and packaging to achieve this.

Marvell Technology, Inc. introduced a first-of-its-kind 64 Gbps/wire Bi-Directional die-to-die interface IP in 2nm, which reduces die area use by 15%. From a valuation perspective, the market is currently pricing in significant growth, though some analysts see it as slightly overvalued relative to a narrative fair value of $91.73, with a last close at $98.19. Still, the company trades on a forward PEG ratio of just 0.70, suggesting a cheap growth story compared to peers like Broadcom. The long-term (3-5 years) expected EPS growth rate is 38.2%, which is well above the S&P 500's long-term rate of 16.1%.

Finance: finalize the Q4 revenue forecast model incorporating the Celestial AI deal projections by Monday.

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Customer Relationships

Marvell Technology, Inc. maintains relationships characterized by deep integration with its largest customers, primarily cloud hyperscalers, which now drive the majority of its revenue.

Deep, collaborative engagement with key customers on custom chip roadmaps

The relationship model is heavily weighted toward strategic partnerships, evidenced by the significant revenue concentration. For the fiscal year ended February 1, 2025, Marvell Technology, Inc. reported that its ten (10) largest customers accounted for 81% of total net revenue. This level of dependence suggests long-term, embedded relationships necessary for custom silicon development.

• Data Center revenue represented approximately 70-73% of total revenue for fiscal year 2025.
• In Q4 of fiscal year 2025, Data Center revenue grew 78% year-over-year, reaching $1.37 billion.
• For Q3 CY2025, Data Center revenue was $1.52 billion.

Dedicated sales and business development teams for major accounts

The concentration of revenue from a limited number of entities necessitates dedicated resources to manage these accounts. For fiscal year 2025, Marvell Technology, Inc. had two customers each contributing 10% or more to total net revenue. The company's success in securing design wins with these giants implies dedicated, high-touch sales engagement.

Co-development model for custom AI accelerators (XPU)

The shift toward custom silicon is a direct result of a co-development approach with major cloud providers. The custom business reached approximately $1.5 billion. AI revenue grew from less than 10% of Data Center revenue in fiscal 2023 to about 50% of Data Center revenue in fiscal 2025. The acquisition of Celestial AI, valued at $3.25 billion, further solidifies this deep engagement in next-generation interconnects for AI clusters.

• Custom ASIC segment growth is projected at 20% in FY27.
• Partnerships include collaborations with Amazon and Microsoft.
• Amazon secured a warrant tied to purchases of Celestial's photonics products through 2030.

Transactional sales through distribution for multi-market products

While the focus is on custom engagements, a portion of the business remains transactional, often facilitated through channel partners. The largest customer group for Marvell Technology, Inc. includes both distributors and direct customers. The multi-market businesses, which include Enterprise networking, carrier infrastructure, and Consumer segments, saw a sharp decrease in Q4 FY2025, by -35% and -38% respectively, suggesting these areas rely more on broader, potentially more transactional channels.

Here's a look at the revenue concentration and segment contribution as of late 2025:

Metric	Value (FY2025 or Latest Reported)	Context/Period
Revenue from 10 Largest Customers	81%	Fiscal Year Ended February 1, 2025
Customers Representing >= 10% of Revenue	2	Fiscal Year Ended February 1, 2025
Data Center Revenue as % of Total Revenue	75%	FY2025
Custom ASIC Business Value	Approximately $1.5 billion	As of early 2025
Q3 CY2025 Data Center Revenue	$1.52 billion	Q3 CY2025
Q4 FY2025 Data Center Revenue	$1.37 billion	Q4 FY2025
FY2025 Total Revenue	$5.77 billion	Fiscal Year 2025

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Channels

You're looking at how Marvell Technology, Inc. gets its specialized silicon and components into the hands of the builders of the digital world. Honestly, the channel strategy is heavily weighted toward direct engagement for the biggest players, which makes sense given the complexity of the products.

Direct sales force for large hyperscale and carrier customers

This is where the real action is, you see. The direct sales motion targets the largest cloud providers-the hyperscalers-and major carrier infrastructure companies. This approach is necessary because Marvell Technology is deeply involved in custom silicon programs, which require close engineering collaboration from the start. For instance, in the third quarter of fiscal 2026, the Data Center segment alone pulled in $1.52 billion, making up 73.2% of the total $2.075 billion revenue for that quarter. That custom AI silicon business has reportedly reached approximately $1.5 billion. Plus, Marvell Technology has disclosed design wins with three of the four major U.S. hyperscale operators. The Carrier Infrastructure segment, also served directly, contributed $167.8 million in that same quarter. It's a high-touch, high-value channel.

Here's a quick look at the revenue contribution from these key direct-served segments in Q3 FY2026:

End Market Segment	Q3 FY2026 Revenue	Percentage of Total Revenue
Data Center	$1.52 billion	73.2%
Enterprise Networking	$237.2 million	11.4%
Carrier Infrastructure	$167.8 million	8.1%

Global distributors and sales representatives for broader market reach

While the hyperscalers get the direct treatment, the rest of the market-which includes the Enterprise Networking segment generating $237.2 million in Q3 FY2026 and smaller customers across various sectors-relies on a more traditional, scaled approach. Marvell Technology uses global distributors and independent sales representatives to cover these accounts efficiently. This channel helps push standard components like PHYs and switches into a wider, more fragmented customer base that doesn't require the same level of custom design integration as the top-tier cloud builders. It's about market coverage, not just deep design-ins.

System OEMs and ODMs integrating Marvell Technology components

System Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) are critical partners, especially in the networking and storage spaces. These partners build the final servers, switches, and storage arrays that incorporate Marvell Technology's chips-like their high-speed Ethernet switches and controllers-before they reach the end customer. This channel acts as a force multiplier, embedding Marvell Technology's IP into high-volume systems. The company's overall fiscal year 2025 revenue hit $5.767 billion, a significant portion of which flows through these large system builders.

Module partners for selling integrated optical solutions

The push into AI requires massive data movement, making optical interconnects a huge growth driver. Marvell Technology works with module partners who take their optical components-like DSPs, TIAs, and drivers-and integrate them into complete optical modules. This specialized channel is key for delivering the high-speed connectivity solutions needed for AI training and inference fabrics. Revenue from Marvell Technology's optical interconnect businesses saw double-digit sequential revenue growth in Q3 FY2026, showing the effectiveness of getting these complex solutions to market via specialized partners.

• Optical interconnect revenue grew by double digits sequentially in Q3 FY2026.
• The company employs over 6,500 people globally to support these complex channel efforts.
• Marvell Technology's total fiscal year 2025 revenue was $5.767 billion.

Finance: draft the Q1 FY2027 channel forecast by mid-January.

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Customer Segments

You're looking at the core of Marvell Technology, Inc.'s value capture, which is heavily concentrated in data infrastructure. Honestly, the customer base has rapidly shifted, making the hyperscalers the undeniable center of gravity for the business as of late 2025.

Hyperscale Cloud Providers (e.g., Amazon, Google, Microsoft) for AI and cloud infrastructure

This segment is the primary engine for Marvell Technology, Inc. right now. For the third quarter of fiscal 2026, the Data Center end market generated revenue of $1.52 billion, which accounted for 73% of the total consolidated revenue for that quarter. That quarterly revenue represented a 38% increase year-over-year. The growth is fundamentally tied to AI adoption; management noted that demand for high-bandwidth connectivity in AI clusters is accelerating faster than general cloud spending. Within this Data Center segment, custom AI silicon programs are now in volume production. Specifically, the custom business, which is roughly one-quarter of the Data Center revenue, was expected to grow by at least 20% in the next fiscal year. Also, electro-optical systems, vital for AI interconnects, made up 50% of the Data Center segment revenue in Q3 FY2026. Marvell Technology, Inc. is positioning itself as a pivotal supplier for these major cloud providers building out next-generation AI infrastructure.

Enterprise Networking customers (for switches and connectivity)

Enterprise Networking is showing a solid recovery as customer inventory digestion normalizes. In the third quarter of fiscal 2026, this segment brought in $237.2 million, representing 11.4% of the total revenue. That figure was a significant jump, rising 57% year-over-year. Management noted that the combined revenue from Enterprise Networking and Carrier Infrastructure was expected to grow sequentially in the mid-teens percentage range for the fourth quarter of fiscal 2026, signaling improving order momentum.

Carrier Infrastructure providers (telecoms building 5G networks)

The Carrier Infrastructure segment is also on a recovery path, driven by demand across telecom customers. For the third quarter of fiscal 2026, revenue hit $167.8 million, making up 8.1% of the total. This marks a substantial year-over-year increase of 98%. The recovery theme is validating the strategy for this market, though management indicated that product shipments were still tracking below end-market consumption levels in the third quarter.

Consumer electronics manufacturers (a smaller, non-core segment)

This is definitely a smaller piece of the overall revenue pie now, given the strategic pivot toward data infrastructure. Consumer revenues in the third quarter of fiscal 2026 totaled $116.6 million, which was 6% of the total revenue. This segment did see year-over-year growth of 21%, but macroeconomic headwinds, like weakening consumer spending, are expected to hurt sales in this area. For the full fiscal year 2025, the Consumer and Industrial segments combined made up about 11.1% of the total revenue of $5.767 billion.

Here's a quick look at the revenue contribution by segment based on the most recent detailed quarterly report (Q3 FY2026):

Customer Segment	Q3 FY2026 Revenue (Millions USD)	% of Total Revenue	Year-over-Year Growth
Hyperscale Cloud Providers (Data Center)	$1,520.00	73.2%	37.8%
Enterprise Networking	$237.20	11.4%	57%
Carrier Infrastructure	$167.80	8.1%	98%
Consumer Electronics	$116.60	5.6%	21%

The Data Center segment's massive contribution, at 73.2%, clearly shows where Marvell Technology, Inc. is placing its chips, so to speak. Finance: draft the Q4 FY2026 segment forecast update by next Tuesday.

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Cost Structure

You're looking at Marvell Technology, Inc.'s cost base as they push hard into AI silicon and photonics. The structure is heavily weighted toward engineering talent and manufacturing partnerships, which is typical for a leading fabless semiconductor firm. Here's the quick math on where the money goes.

High R&D expenditure to maintain technology leadership

Maintaining technology leadership in custom AI silicon and advanced networking requires significant, ongoing investment in Research & Development (R&D). While R&D is often bundled within the total operating expenses, the sheer scale of the data center focus implies this is the largest controllable expense category. For context on the cost of operations, Marvell Technology's GAAP operating expenses in the fourth quarter of fiscal 2025 were $682.2 million.

These GAAP operating expenses included significant non-cash charges that illustrate the cost of innovation and past deals:

• Amortization of acquired intangible assets: $77.6 million in Q4 FY2025.
• Stock-based compensation: $137.5 million in Q4 FY2025.

Cost of Goods Sold (COGS) for wafer fabrication and advanced packaging (fabless model)

As a fabless company, Marvell Technology's COGS is dominated by payments to external foundries for wafer fabrication and costs associated with assembly, testing, and advanced packaging. These costs directly impact the gross margin. Marvell Technology reported a strong non-GAAP gross margin of 60.1% in the fourth quarter of fiscal 2025, though the GAAP gross margin was lower at 50.5% for the same period.

The high volume of custom AI silicon, while driving revenue growth, can put pressure on margins due to the complexity and cost of advanced nodes and packaging. For instance, the non-GAAP gross margin for Q3 FY2026 was guided between 58.5% and 59.5%.

Non-GAAP Operating Expenses guided at approximately $515 million for Q4 FY2026

Management provides specific guidance for operating expenses, which excludes items like stock-based compensation and amortization. For the fourth quarter of fiscal 2026, the guidance for Non-GAAP operating expenses is set at approximately $515 million. This figure is a key indicator of the planned operational spending level, excluding acquisition-related non-cash charges.

For comparison to recent actuals, the Non-GAAP operating expenses for the preceding quarter, Q3 FY2026, were also reported at approximately $515 million, showing a consistent run rate expectation heading into the end of the fiscal year.

Sales, General, and Administrative (SG&A) expenses

SG&A expenses fall within the total operating expenses, covering overhead, sales force costs, and administrative functions. While not broken out separately in the most recent guidance snippets, the difference between GAAP and Non-GAAP operating expenses gives you a sense of the scale of these non-cash and non-recurring items.

The total GAAP operating expenses in Q4 FY2025 were $682.2 million, while the Non-GAAP operating expenses were $479 million for the same quarter. This difference of approximately $203.2 million covers stock-based compensation, amortization, restructuring, and acquisition-related costs.

Acquisition costs and integration expenses (e.g., Celestial AI)

Strategic acquisitions introduce upfront cash and stock costs, plus future integration expenses, which can impact both the balance sheet and operating results. Marvell Technology's announced acquisition of Celestial AI is a major cost event.

The financial commitment for the Celestial AI acquisition is substantial:

Cost Component	Amount
Upfront Consideration Value	Approximately $3.25 billion
Cash Portion of Upfront Consideration	$1 billion
Stock Portion of Upfront Consideration (approx. 27.2M shares)	$2.25 billion
Maximum Contingent Consideration (Earnout)	Up to $2.25 billion in additional shares

The earnout is contingent on Celestial AI achieving cumulative revenue exceeding $2 billion by the end of Marvell Technology's fiscal year 2029. Integration costs, while not explicitly quantified for the near term, will be factored into future operating expenses, likely impacting the GAAP figures more directly than the Non-GAAP metrics which often exclude acquisition-related charges.

Finance: draft 13-week cash view by Friday.

Marvell Technology, Inc. (MRVL) - Canvas Business Model: Revenue Streams

You're looking at the core ways Marvell Technology, Inc. brings in money, which is heavily weighted toward the current AI buildout. Honestly, the numbers tell a clear story about where the focus is right now.

The primary revenue driver is the Sale of Data Center products (AI ASICs, electro-optics, switching) at ~74% of total revenue. This segment is the engine room for Marvell Technology, Inc. right now, reflecting massive investment in cloud and AI infrastructure.

Beyond that major pillar, revenue still comes from the Sale of Enterprise Networking and Carrier Infrastructure semiconductor products. Still, you should note that these other segments have seen some softness recently, even as the Data Center side accelerates. Also, Marvell Technology, Inc. generates income through the Licensing of Intellectual Property (IP) to other companies, providing another layer of recurring or upfront revenue based on their silicon designs.

For context on the scale of the business, Marvell Technology, Inc. reported a Total FY2025 Annual Revenue of $5.767 billion. That figure marks a 4.71% increase from the prior fiscal year. The company's most recent reported quarterly performance shows strong margin execution, with a Non-GAAP Gross Margin of 59.7% in Q3 FY2026.

Here's a quick look at some key financial markers related to revenue and profitability as of late 2025/early 2026:

Metric	Value	Period/Context
Total FY2025 Annual Revenue	$5.767 billion	Fiscal Year 2025
Data Center Revenue Share (Approximate)	~74%	Based on FY2025 composition
Non-GAAP Gross Margin	59.7%	Q3 FY2026
Q3 FY2026 Net Revenue	$2.075 billion	Third Quarter of Fiscal Year 2026
Data Center Revenue (Q3 FY2026)	$1.52 billion	Third Quarter of Fiscal Year 2026

The revenue streams can be broken down by the key product areas Marvell Technology, Inc. services:

• Data Center products, including AI ASICs and electro-optics.
• Enterprise Networking semiconductor products.
• Carrier Infrastructure semiconductor products.
• Intellectual Property licensing fees.

To be defintely clear on the Data Center segment's weight, in Q3 FY2026, Data Center revenue hit $1.52 billion on total revenue of $2.075 billion, which is about 73.25% of that quarter's revenue, supporting the overall FY2025 figure you mentioned. The company also noted that for FY2025, Data Center revenue represented 75% of total revenue.

Finance: draft 13-week cash view by Friday.