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Strong demand for Marvell's 800-gig PAM electro-optic products, linked to AI accelerator growth. -
Sampling of 1.6T 200-gig-per-lane PAM platform started April pre-earnings call; customer qualifications underway, production ramp-up expected. -
Traditional cloud infrastructure and AI segment revenues showing strong growth. -
400-gig DCI modules demand increasing. -
Q3 2024 Revenue: $1.42B, 6% sequential increase, above guidance midpoint; Datacenter revenue up 21%, cloud up over 30%. -
Q4 Outlook: Data Center Market growth expected mid-30% range sequentially; AI revenue > $200M; Carrier Market to decline mid-40% range; Enterprise Networking and Consumer Market also projected to decline.
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Supply Chain: 39-week lead times for AI servers, supply constraints. -
AI Server Demand: Nearly doubled QoQ, significant growth in enterprise sector. $2bn backlog in Aug, $1.6bn end of Q3, tripled pipeline. -
Q3 2024 ISG Performance: Flat QoQ, growth in servers and networking, driven by AI servers. CSG Performance: Revenue down sequentially, below expectations. -
Q4 Revenue Forecast: $21.5bn - $22.5bn. FY25 Outlook: Growth expected above long-term framework. Inflection point in traditional servers, competitive PC market. -
PC Market: Refresh cycle expected due to aging PCs, new AI-enabled architectures. Post-August slowdown in PC demand, increased caution in large commercial customers, competitive environment, pricing pressure. -
AI PC: Defined as PC with local AI workload capability, not cloud-dependent. Upcoming AI chip advancements from Intel, AMD, Windows on ARM.