Stock Track | Marvell Technology Plummets 5.01% as Competition Heightens in AI Chip Market

Stock Track12-19

Marvell Technology Inc. (MRVL) shares tumbled 5.01% in intraday trading on Wednesday, underperforming the broader market. The plunge comes amid concerns over growing competition in the AI chip market, as hyperscalers explore alternative solutions to lower costs.

According to a report by MarketWatch, Broadcom Inc. and Marvell are emerging as potential threats to Nvidia's dominance in the AI chip space. As hyperscalers look to build massive AI data centers, they are considering custom ASIC (application-specific integrated circuit) chips as a more cost-effective alternative to Nvidia's graphics processors.

Broadcom and Marvell have both highlighted significant opportunities in providing custom ASIC chips to their hyperscaler customers. Broadcom, in particular, has projected a potential serviceable market of $60 billion to $90 billion in 2027 for its AI silicon solutions. These developments have sparked concerns about Nvidia's future market share in the rapidly growing AI industry.

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