Marvell Technology and Semtech are both benefiting from surging AI infrastructure spending, yet their financial profiles diverge significantly. Marvell reported fiscal 2026 revenue of approximately $8.2 billion, a 42% increase, and swung to a net income of nearly $2.7 billion after two years of losses. Semtech grew revenue about 16% to nearly $1.1 billion but still posted a net loss of $40.4 million, an improvement from the prior year's loss of close to $161.9 million. Marvell carries a debt-to-equity ratio of about 0.3x and generated free cash flow of close to $1.4 billion, while Semtech's leverage stands at roughly 0.9x with free cash flow of $171.4 million. Looking ahead, Marvell expects fiscal 2027 revenue to rise 40% to $11.5 billion, and Semtech is projected to reach $1.37 billion in sales with a swing to net income of $152 million.
Marvell Technology Group LtdMarvell reported 42% revenue growth driven by AI infrastructure spending and expects 40% growth next year.
NVIDIA Corporation
Semtech CorporationSemtech grew revenue 16% from AI demand and is projected to swing to net income next year.