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Marvell Technology (NASDAQ: MRVL) shares surged 3.1% in after-hours trading to $122.92, following a 2.4% gain during Thursday’s session, as Amazon (NASDAQ: AMZN) reaffirmed its commitment to AI infrastructure spending.
Despite Amazon reporting weaker-than-expected Q4 earnings for its Amazon Web Services (AWS) unit, the tech giant reiterated plans to invest billions in AI chips, networking, and data center expansion. CFO Brian Olsavsky stated that capital expenditures could exceed $100 billion in 2025, primarily for AWS growth and AI services.
Amazon and Marvell established a five-year agreement in late 2024, with Marvell supplying custom chips and data center equipment, including contributions to AWS’s Trainium 2 AI chip. Amazon has been ramping up efforts to compete with AI powerhouse NVIDIA (NASDAQ: NVDA) through proprietary chip development and server solutions.
Marvell, a key supplier to OEMs and ODMs, has capitalized on surging AI chip demand, especially for data centers. With its stock doubling in 2024, the company is positioned for continued growth as AI adoption accelerates.
