Marvell sets ambitious custom AI chip revenue goal for fiscal 2031

At its 2026 Investor Day, Marvell Technology said it aims to reach about $30 billion in annual custom silicon revenue by fiscal 2031, up from roughly $1.5 billion in FY2026. The company projects total revenue of $70 billion to $90 billion for that year, with custom XPUs and related networking and storage chips making up the custom silicon business. Marvell said it already supplies custom silicon to all four major U.S. hyperscalers and has a Google agreement potentially worth up to $120 billion through FY2033.

Marvell disclosed the custom silicon goal at its Oct. 6, 2026 investor event. The unit generated about $1.5 billion in FY2026, while companywide revenue was $8.2 billion. Management now guides total FY2031 revenue to $70–$90 billion, with custom chips contributing roughly $30 billion.

The custom business includes bespoke AI accelerators, called XPUs, plus attached networking and storage silicon. Marvell says it ships to all four large U.S. hyperscalers across more than 35 sockets. Its Google TPU-related pact, signed July 29, 2026, could reach $120 billion by FY2033 if conditions are met.