Marvell's stock sells off after company couldn't meet Nvidia's high bar on AI

Marvell Technology Inc. had a tough act to follow this week, reporting the day after Nvidia Corp. blew Wall Street’s collective mind with billions of dollars more in data-center sales than analysts had expected.

The company’s data-center sales fell 29% to $459.8 million in the latest quarter, though they exceeded the $439.9 million FactSet consensus. By contrast, Nvidia posted data-center sales a day earlier that were more than $2 billion above what Wall Street expected. Mizuho desk analyst Jordan Klein said that even though Marvell’s forecast was “underwhelming,” AI sales were larger than expected.

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