Marvell Stock Drops 10.3% Amid Delayed Google Revenue

Marvell Technology's stock price plummeted by 10.3% on Friday, wiping out $22 billion in market capitalization. The decline was a result of the company announcing that revenue from Google would not materialize until 2029.

The company reported record earnings for its fiscal second quarter, with revenue increasing by 37% to reach an all-time high of $2.739 billion. However, this was not enough to meet market expectations for AI-related growth.

Marvell's management stated that revenue connected to Google will grow substantially larger in fiscal 2029. The company's stock had almost tripled in value during 2026, with investors anticipating quicker gains from the custom-chip partnership with Google.