NEW YORK — Marvell Technology shares rose sharply Wednesday after Chief Executive Matt Murphy told investors the company's two-year sales outlook had jumped by $6.5 billion and that trust with hyperscale customers, not a single product cycle, explains a 241% gain over the past year.

The stock traded at $238.04 around 10:41 a.m. Eastern, up $12.63, or 5.60%. The move extended a rebound from an August selloff that followed earnings and talk of "lumpiness" in custom AI accelerators. Over 12 months Marvell has far outpaced Broadcom, whose shares rose about 6.6% in the same stretch, according to CNBC.

On CNBC's "Mad Money" on Tuesday, Murphy said the December view of about $10 billion in revenue this year and $13.5 billion in 2027 is obsolete. Marvell now expects about $12 billion this year and $18 billion next year — $30 billion across the two years, up from $23.5 billion. Data centers are the engine. The company booked roughly $2 billion of data-center sales in 2023. Murphy said more than $15 billion of next year's $18 billion should come from that market.

"So basically, we've come in a full year and taken the company from $2 billion and change in data center revenue in 2023 to $15-$16 billion next year," he said.

He located the edge........

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