Marvell Technology further raised its long-term performance targets at its Investor Day, projecting total revenue to reach approximately $20 billion in fiscal year 2028, up from the previous target of $18 billion and exceeding Wall Street's expectation of around $18.2 billion. The company also expects revenue to reach $70 billion to $90 billion in fiscal year 2031, significantly higher than Wall Street's current estimate of approximately $46.85 billion. This upward revision reflects Marvell's more optimistic assessment of AI infrastructure demand, with the company citing continuous growth in data center chip demand, particularly its custom chip business, which is becoming a key growth engine. Following the announcement, Marvell's stock price briefly rose by nearly 9%.