Marvell Technology, Inc. (NASDAQ:MRVL) is betting on India to unlock long-term value, expanding local talent and innovation as it chases growth in the booming artificial intelligence infrastructure market.
The company plans to expand hiring and increase research spending in India to capture the rising global demand for AI infrastructure. The stock gained on Thursday in sympathy with Nvidia Corp’s (NASDAQ:NVDA) upbeat quarterly results, which triggered a rally in the semiconductor sector.
Also Read: Marvell Set To Double AI Chip Sales To $4 Billion Next Year, Analyst Projects
Bengaluru functions as Marvell's India headquarters, while the Hyderabad site develops data-center security solutions and the Pune team specializes in embedded networking and storage technologies.
The company’s India head, Navin Bishnoi, told Reuters that Marvell will grow its current India workforce of 1,700 by roughly 15% each year over the next three years. However, he declined to specify the scale of R&D budget expansion.
Marvell stock tanked by more than 24% year-to-date after it missed revenue estimates in at least 2 of the last 3 quarters and EPS estimates at least once during the period. Concerns also loomed over softness in non-data center segments and geopolitical tensions with China.
As a fabless chipmaker, Marvell is working with domestic outsourced assembly and testing (OSAT) firms to align with their manufacturing plans.
Bishnoi expects a substantial long-term opportunity in India ten years down the line, noting that India has become the world's third-largest market for data center capacity. He added that the company is negotiating new business with major cloud providers and local enterprises.
Marvell's strategy supports Prime Minister Narendra Modi's nationwide semiconductor push to reduce reliance on imports and elevate India's position in the global electronics supply chain.
A recent report indicated SoftBank Group Corp (OTC:SFTBY) explored acquiring the semiconductor company earlier in 2025. SoftBank considered combining Marvell with Arm Holdings plc (NASDAQ:ARM), the chip designer it owns, but the two sides are not currently in talks. Sources told Bloomberg that SoftBank could revisit a takeover in the future, which would mark the largest deal in semiconductor history as AI drives interest in the sector.
Price Action: Marvel stock was trading 2.50% higher at $83.84 as of last check on Thursday.
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