Marvell Technology, Inc. (NASDAQ:MRVL) shares surged following the announcement of a five-year expanded partnership with Amazon Web Services, Inc. (AWS), emphasizing collaboration across AWS products and leveraging cloud infrastructure to drive advancements in accelerated data solutions.
The partnership includes Marvell’s advanced data center semiconductor portfolio, including AI products, digital signal processors (DSPs), PCIe retimes, and Ethernet solutions. These technologies enable AWS to enhance compute, networking, and storage efficiency, offering cost savings and faster market readiness for AWS and its customers.
Adopting a cloud-first approach, Marvell leverages AWS for electronic design automation (EDA), accelerating silicon design with scalable infrastructure. This strategy tackles advanced-node workload demands, supports parallelized design tasks, and accelerates time-to-market for Marvell’s products.
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“AWS’s EDA solutions will help Marvell rapidly and securely scale our silicon design process and capabilities to deliver industry-leading accelerated infrastructure with best-in-class time to market,” commented Matt Murphy, Chairman and CEO at Marvell.
“Our expanded collaboration with Marvell enables us to deploy our comprehensive semiconductor portfolio and specialized networking hardware to advance our mission to provide the industry’s most robust and scalable cloud and AI services to our customers,” commented Matt Garman, CEO at AWS.
Additionally, Evercore ISI raised its price target on Marvell from $98 to $122 while maintaining the Outperform rating.
Price Action: MRVL shares are trading higher by 2.74% at $95.23 at the last check Monday.
Photo by Sundry Photography via Shutterstock
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