By Trefis Team
Publication Date: 2025-12-09 16:27:00
The investment narrative around the Artificial Intelligence boom thus far has largely centered on who supplies the foundational hardware. In this high-stakes contest, two semiconductor giants—Broadcom (AVGO) and Marvell Technology (MRVL)—are fierce competitors in the most critical areas of the AI infrastructure build-out: logic chips and networking. On paper, they compete in the same markets. In the stock market, they live in different orbits Since the launch of ChatGPT in November 2022:
Image by Cristian Ibarra from Pixabay
Today, Broadcom commands a $1.8 trillion market cap. Marvell sits near $80 billion. The multiples and scale explain part of the story.
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Broadcom: 41x forward 2026 earnings, Marvell: 24x forward earnings
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Broadcom Revenue (FY): >$63B, Marvell Revenue (FY): about $8B
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