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Marvell's 1.6T PAM4 products ramping in FY2027 with 'substantial' revenue step-up expected in FY2028, representing first-to-market cadence leadership
Matt Murphy· Marvell Technology· AI· 2026-05-27· about Marvell Technology (MRVL)
“Within our scale out PAM franchise, demand continues to strengthen for our 800 gig products, while our 200-gig-per-lane 1.6T solutions are ramping quickly this fiscal year following their production launch in the second half of fiscal 26. We expect 1.6T revenue to take another substantial step up in fiscal 28.”
Why it matters
Marvell's 1.6T PAM4 ramp validates that hyperscalers are aggressively moving beyond 800G to 1.6T interconnects. This is faster adoption than previously expected and signals urgent bandwidth demand in AI clusters.
Investment implication
TSMC 5nm/3nm capacity for 1.6T DSPs and retimers faces severe constraint. Testing and characterization services for 1.6T PAM4 channels will spike. Optical component suppliers (lasers, photodiodes, modulators) optimized for 200G-per-lane will see rapid transition pressure.