High Beta Runners Up: Why AMD and Marvell Technology Now Command Attention

Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) and Marvell Technology (NASDAQ:MRVL) have cleared their most recent earnings, deepening the case for treating them as the market’s preferred high beta alternatives to NVIDIA (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO). They are the sector’s second relief valves, and their quarters show why.

Data Center Doubles at AMD, Optics and XPUs Power Marvell

AMD’s Q2 showed Lisa Su’s Instinct roadmap has traction. Revenue hit $11.54 billion, up 50.11% year over year, with the Data Center segment landing at $6.72 billion, a 107% jump that flipped a year ago operating loss into $2.10 billion of segment income. Su told investors the second half will lean on “EPYC demand accelerating, Instinct deployments scaling and Helios beginning to ramp”. Gaming stayed a drag at negative 31%, a reminder the AI story is not yet lifting every segment.

Marvell’s Q1 FY2027 leaned into a single theme: hyperscaler custom silicon and optical interconnect. Revenue reached $2.418 billion, with data center at $1.83 billion, or 76% of total revenue. Matt Murphy described “exceptional AI-related bookings” spanning 800G and 1.6T optics, 51.2T Ethernet switches, and custom XPU silicon.