Marvell lifts custom silicon revenue target to $12 billion, driven by XPU attach hardware

Marvell Technology guided for custom silicon revenue above $12 billion in fiscal 2029, up from a prior $10 billion target. The increase comes almost entirely from XPU attach products — data-center storage, networking, and management hardware. COO Chris Koopmans said the category has grown faster than expected and offers higher margins than custom compute chips. The company also sees total revenue reaching $20 billion in fiscal 2028 and $70-90 billion by fiscal 2031. Shares rose 5.8% on the day.