S&P Global Ratings revised Marvell Technology's outlook to positive from stable on July 24, 2026. The agency affirmed Marvell's 'BBB' issuer credit rating.
S&P attributed the revision to stronger-than-anticipated demand from AI data center infrastructure buildouts.
The agency forecasts Marvell's revenue to grow by approximately 40% in fiscal 2027. It projects 44-46% revenue growth in fiscal 2028.
S&P highlighted strong demand for Marvell's electro-optical connectivity products. The agency expects the company's data center revenues to increase by at least 50% in the current fiscal year.
Marvell's stock fell over 7% on the same day. This occurred amidst a broader sell-off in the semiconductor sector.