Summary: Marvell Technology’s weak data center forecast, particularly in its custom ASIC business, disappointed investors and caused a 12% drop in after-hours trading. The company’s revenue guidance for the third quarter fell short of market expectations, and concerns about its position in the data center market, especially with large customers like Microsoft and Amazon, contributed to the sell-off. Despite the challenges, Marvell remains optimistic about the long-term potential of the ASIC market.

Link: https://www.channelnewsasia.com/business/chipmaker-marvells-weak-data-center-forecast-prompts-ai-investors-dump-its-stock-5321066