Qualcomm Jumps 7% as Amazon Deal Could Bring $60 Billion in Orders

Marvell Technology unveiled three 2-nanometer optical technologies aimed at easing one of AI infrastructure's biggest pressure points: moving more data through increasingly crowded networks. The lineup stretches from 400-gigabit-per-second-per-lane PAM4 technology built for 3.2-terabit connectivity to an 800-gigabit ZR/ZR+ pluggable with integrated MACsec encryption and 1.6-terabit coherent links spanning data-center connections. Marvell is also showing a 102.4-terabit-per-second co-packaged-optics platform among 38 demonstrations at ECOC. Shares climbed approximately 3.4% to $252.39 Monday, a level 109.07% above the $120.72 GF Value. The company's latest quarter produced $2.739 billion of revenue, up 37%, while data-center sales jumped 46%, though the next test is execution through customer design wins, production schedules, shipment volumes and margins.

Arm's stock has swung on the same customer-demand figure three times in four months, with the chip designer plunging from an early-September peak near $452 in June to just under $244, a 46% drawdown reflecting a broader unwind of AI capital-spending optimism. On September 18, shares closed at $275.61, up 4.04%, after CEO Rene Haas told Jim Cramer that demand for Arm's technology has "never looked better." Haas has cited the AGI CPU demand figure before: Arm unveiled the chip in March with a roughly $1 billion revenue guide across fiscal 2027 and 2028, and by May disclosed customer demand had already surpassed that figure, yet the stock fell because the guide did not move. In July, Haas said demand "now exceeds $2 billion," and in September the same $2 billion figure produced the biggest rally yet, with the tone changing because supply confidence improved across wafers, substrates, test capacity, and memory. Margins on the in-house silicon are modest by Arm's standards, with first-generation gross margin expected in the high 30% range, maybe low 40s, and a longer-term path to 50%, compared to Arm's corporate 92.5% gross margin on royalties. NVIDIA's Arm-based Vera CPU, which Haas said delivers "up to 50% higher CPU performance and two times greater energy efficiency than comparable x86 systems," feeds Arm's royalty stream, while Qualcomm's Nuvia license trial in Q4 2026 could reprice royalties across the entire industry.