Marvell: Growing with a focus on data infrastructure. Strong in networking, storage, computing, and photonics solutions.

 

Marvell

[Posting: 2025.08.17]

Marvell Technology is a specialized fabless semiconductor company that has grown with a strong focus on data infrastructure, possessing strengths across a wide range of areas including networking, storage, compute, and optical solutions. Its representative products include the OCTEON 10 DPU, Prestera Ethernet switches, Alaska PHY, Bravera SSD controllers, as well as optical DSPs and silicon photonics product lines, which are widely applied in cloud and AI data centers, 5G networks, and automotive Ethernet. From a manufacturing perspective, Marvell leverages TSMC’s advanced 5nm and 3nm process nodes along with GlobalFoundries’ mature processes to deliver solutions that combine high performance with low power consumption. While the company achieved significant revenue growth over the past five years, it recorded a temporary operating loss in fiscal year 2024, reflecting the volatility of its business environment. Nevertheless, the surging demand for bandwidth in AI and data centers, the transition to 800G/1.6T optical interconnects, and the expansion of automotive networking are expected to be positive drivers for Marvell’s future growth. Overall, Marvell is anticipated to play an increasingly important role as a core supplier of semiconductors for AI, cloud, and communications infrastructure, supported by its stable foundry partnerships and strong expertise in networking and optical technologies.


Marvell – History, 5-Year Performance, Products/Applications, Models, Foundry Usage, Employee Compensation

This document summarizes Marvell Technology, Inc.’s history, financial results over the past five fiscal years, product portfolio and applications, representative product models, foundry usage by process technology, and employee headcount/median compensation.

1) Company Overview & Key History

  • Founded: 1995 by Sehat Sutardja, Weili Dai, and Pantas Sutardja. Began with storage semiconductors such as HDD read channels.

  • Major M&A/Restructuring:

    • Jul 2018: Acquired Cavium (strengthened networking, security, and processors).

    • Nov 2019: Acquired Avera Semi (former GF ASIC) and signed a long-term wafer supply agreement with GlobalFoundries (expanded custom ASIC capabilities and supply base).

    • Dec 2019: Divested Wi-Fi/Bluetooth business to NXP (refocusing portfolio on infrastructure).

    • Apr 2021: Acquired Inphi (expanded optical interconnect with PAM4/coherent DSP for data centers).

  • Design/Manufacturing Strategy: Fabless. Advanced logic manufactured on TSMC 5nm/3nm platforms; certain products fabricated on GlobalFoundries mature processes under a long-term wafer agreement.

2) 5-Year Financial Results (FY2020–FY2024)

Marvell’s FY2024 ended on February 3, 2024. FY2023 ended on January 28, 2023. Figures are GAAP revenue and operating income (loss).

Fiscal YearRevenue (USD M)Operating Income (USD M)
FY2024 (Feb 3, 2024)5,507.7-567.7
FY2023 (Jan 28, 2023)5,919.6+238.0
FY2022 (Jan 29, 2022)4,462.4-347.7
FY2021 (Jan 30, 2021)2,968.9-258.4
FY2020 (Feb 1, 2020)2,699.2-243.4

FY2024 commentary: Revenue down 7% due to inventory adjustments and product claim costs, lower gross margin, and restructuring expenses. Partially offset by increased optical product demand driven by AI.

3) Product Portfolio & Revenue Mix

(1) Portfolio Segments

  • Compute (DPU/Network processors)

  • Networking (Ethernet switches/PHY)

  • Security

  • Electro-Optics (PAM4/coherent DSP, silicon photonics)

  • Storage (SSD controllers, etc.)

(2) Revenue by End Market

End MarketFY2024FY2023FY2022
Data Center40%41%40%
Enterprise Networking22%23%20%
Carrier Infrastructure19%18%18%
Consumer11%12%16%
Automotive/Industrial8%6%6%
Total100%100%100%

4) Use Cases

  • Data Centers: AI/cloud switches and server networking, DPU/SmartNIC, 400G/800G optical interconnects (electrical-optical conversion, DSP/silicon photonics).

  • Enterprise Networking: Campus/edge switching (multi-gigabit/terabit), PHY/controllers.

  • Carrier Infrastructure: 5G backhaul/access switches, Ethernet/optical solutions for transmission equipment.

  • Automotive/Industrial: In-vehicle Ethernet, ADAS/IVN, industrial switches.

  • Consumer/Storage: Cloud and enterprise SSD controllers.

5) Representative Product Models

  • OCTEON 10 DPU: CN102/CN103/CN106/CN106S – Arm Neoverse N2, built on TSMC 5nm; some SKUs integrate inline AI/ML acceleration and a 1Tb switch.

  • Prestera® Switches: 98DX25xx (access/enterprise), 98DX73xx (carrier edge/access), scaling up to multiple Tbps.

  • Alaska® PHY & Alaska A (AEC DSP): Gigabit/multi-gigabit PHYs (e.g., 88E151x), 400/800G PAM4 AEC DSP retimer family.

  • Bravera™ SC5 SSD Controllers: PCIe 5.0, 8/16 channel (MV-SS1331/1333), optimized for cloud storage.

  • PAM4/Coherent DSP & Optical Modules: Orion coherent DSP, COLORZ 800 (800ZR/ZR+ pluggable) for DCI/metro optical transport.

6) Foundry Usage by Process Technology

ProcessProduct/PlatformFoundry
3nm (N3)Next-gen data infrastructure silicon platformTSMC (announced adoption of N3 platform)
5nm (N5)OCTEON 10 DPU familyTSMC (explicit in product briefs)
Mature nodesCustom ASIC, some networking/storageGlobalFoundries (long-term wafer supply agreement via Avera acquisition)

7) Employees & Median Compensation

  • Headcount: 6,577 employees (as of FY2024, Feb 3, 2024).

  • Median Compensation:

    • FY2024: US$ 184,313, CEO pay ratio approx. 127:1.

    • FY2025 disclosure: US$ 171,377, CEO pay ratio approx. 188:1.

8) Representative Application Examples (Quick Insights)

  • AI Data Centers: 800G/400G PAM4/coherent DSP + COLORZ 800 expand DCI/regional bandwidth; DPUs offload storage, security, and networking.

  • 5G/Carrier Networks: Prestera carrier switches (98DX73xx) aggregate and secure RAN/edge traffic.

  • Enterprise Campus/Edge: Prestera 98DX25xx with multi-gigabit Alaska PHY/controllers supports Wi-Fi 6/7 uplinks.

  • Cloud Storage: Bravera SC5 PCIe 5.0 SSD controllers enable high-performance NVMe SSDs.

9) Frequently Asked Questions (FAQ)

Q1. Which market is largest for Marvell?
A. As of FY2024, Data Center (40%) is the largest, followed by Enterprise Networking (22%) and Carrier Infrastructure (19%).

Q2. Why did Marvell turn to an operating loss recently?
A. In FY2024, significant impacts came from one-time product claim costs, changes in product mix, restructuring expenses, and continued weakness in storage shipments.

Q3. Which foundries manufacture Marvell’s advanced processes?
A. TSMC 5nm/3nm for leading-edge products (e.g., OCTEON 10, next-gen platforms). GlobalFoundries provides mature-node production under a long-term wafer supply contract.




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