ARM and Marvell Technology show diverging revenue trajectories in the AI chip market.
ARM primarily generates revenue by licensing core computing CPU designs, graphics processing units, and complementary system intellectual property to semiconductor manufacturers and original equipment manufacturers globally. The company collaborated with partner organizations to develop an autonomous systems capability framework and hosted a developer event in California to support emerging computing architectures.
Marvell Technology generates revenue by designing and providing data infrastructure semiconductor solutions, integrated analog circuits, storage controllers, and specialized Ethernet processors spanning from the data center core to the network edge. The company announced plans to expand its technical engineering workforce and facility operations in India over three years, and expanded a multi-year manufacturing agreement to increase optical connectivity production capacity.
Revenue measures a company's ability to generate baseline sales before accounting for expenses. This metric reveals whether an organization is successfully attracting customers and growing its overall business volume over time.
**Quarterly Revenue Comparison (Q3 2024 – Q2 2026)**
| Quarter | ARM Revenue | Marvell Technology Revenue |
|---------|-------------|---------------------------|
| Q3 2024 | $844 million (ended Sept. 30, 2024) | $1.5 billion (ended Nov. 2, 2024) |
| Q4 2024 | $983 million (ended Dec. 31, 2024) | $1.8 billion (ended Jan. 31, 2025) |
| Q1 2025 | $1.2 billion (ended March 31, 2025) | $1.9 billion (ended May 3, 2025) |
| Q2 2025 | $1.1 billion (ended June 30, 2025) | $2.0 billion (ended Aug. 2, 2025) |
| Q3 2025 | $1.1 billion (ended Sept. 30, 2025) | $2.1 billion (ended Nov. 1, 2025) |
| Q4 2025 | $1.2 billion (ended Dec. 31, 2025) | $2.2 billion (ended Jan. 31, 2026) |
| Q1 2026 | $1.5 billion (ended March 31, 2026) | $2.4 billion (ended May 2, 2026) |
| Q2 2026 | $1.3 billion (ended June 30, 2026) | $2.7 billion (ended Aug. 1, 2026) |
*Data source: Financial Modeling Prep. Data as of Sept. 25, 2026.*
Revenue trends for ARM and Marvell reveal stark differences in how each company is affected by the artificial intelligence boom. Both enjoy year-over-year sales growth, but Marvell is expanding at a significantly faster quarterly pace, reflecting greater demand for its AI-related offerings.
ARM's historical focus on smartphone designs was beneficial during mobile's growth, but the AI era has required strategic adjustment. The company is moving into semiconductor chip production for data center CPUs, rather than merely licensing its designs. Like other chipmakers, ARM will be a fabless provider, outsourcing manufacturing. Future quarterly trends will show whether this shift accelerates revenue growth.
Marvell is experiencing strong quarterly sales increases, driven by demand from tech giants for its custom chip capabilities. Management is confident the current growth trajectory will continue. On Oct. 6, management raised its revenue outlook for fiscal 2028 (ended Jan. 31, 2028) to $20 billion, up from the August guidance of $18 billion. The company also set a fiscal 2031 sales target of $70 billion to $90 billion, reflecting confidence in continued spectacular growth.