Marvell Shares Slide on Softer Data Center Demand and AI Chip Worries
Shares of Marvell Technology (MRVL) tumbled nearly 15% in premarket trading Friday after the chipmaker warned that demand for its data center products wasn’t as strong as investors had hoped. The news fueled fresh concerns about the company’s custom AI chips and their sales to major cloud providers. Investor Expectations Run High on AI Boom…