Marvell shares rise after expanding deal with AWS

Investing.comDec 2, 2024 3:04 PM

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Investing.com -- Shares of Marvell Technology Inc (NASDAQ:MRVL) rose more than 5% premarket on Monday after a five-year agreement with Amazon (NASDAQ:AMZN) Web Services (AWS) that includes collaboration on data center semiconductor and cloud infrastructure technologies.

Under the deal Marvell will supply a range of products for AWS, such as data center semiconductor, custom AI products, optical digital signal processors, active electrical cable, PCIe retimers, data center interconnect optical modules and Ethernet switching silicon solutions.

Additionally, Marvell will use AWS's cloud-based electronic design automation (EDA) tools for its silicon development.

"AWS's EDA solutions will help Marvell rapidly and securely scale our silicon design process and capabilities to deliver industry-leading accelerated infrastructure with best-in-class time to market." Marvell CEO Matt Murphy.

With Marvell's silicon technologies, AWS is continuing to advance data center compute, networking and storage offerings, allowing AWS and their customers to achieve greater efficiency, lower total cost of ownership, and faster time to market, the company said in a statement.

Marvell said the collaboration aims to improve efficiency and reduce costs for AWS and its customers, underscoring the growing demand for advanced semiconductor solutions in data centers.

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