Marvell Technology's shares have fallen amid investor caution on AI-linked stocks, despite the company reporting 28% year-over-year revenue growth. Management projects total revenue growth of 40% to $11.5 billion for the full year, with data center revenue expected to climb 50% in fiscal 2027 and 55% in fiscal 2028. The forecast for near-packaged optics (NPO) and co-packaged optics (CPO) revenue has doubled to $300 million for next fiscal year, driven by customer prioritization of latency reduction. Nvidia CEO Jensen Huang recently called Marvell the "next trillion-dollar company."