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Broadcom may fit investors seeking a much larger business with both semiconductor and infrastructure-software revenue; Marvell may fit investors looking for a smaller company whose recent growth has been led by data-center demand. Both are exposed to AI infrastructure spending, and neither profile alone establishes which stock is attractively priced. The figures below compare reported businesses, not expected returns or a personalized allocation.
How do Broadcom and Marvell compare on scale and business mix?
Broadcom is not solely a semiconductor business. In the quarter ended August 2, 2026, it reported $29.591 billion in revenue: $20.839 billion from semiconductor solutions and $8.752 billion from infrastructure software. Software accounted for 30% of quarterly revenue, with VMware Cloud Foundation identified as a key driver of software-segment growth. Broadcom’s Form 10-Q attributes semiconductor growth primarily to custom AI accelerators and AI networking.
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Marvell reported $2.7393 billion in revenue for the quarter ended August 1, 2026. Its Form 10-Q identifies data-center demand as a central growth driver. The companies’ reported quarterly revenues provide scale context, but their business mixes differ substantially.
| Measure | Broadcom | Marvell |
|---|---|---|
| Quarterly revenue | $29.591 billion for the quarter ended August 2, 2026; Broadcom Form 10-Q. | $2.7393 billion for the quarter ended August 1, 2026; Marvell Form 10-Q. |
| Year-over-year quarterly revenue growth | Not stated in the cited Broadcom Form 10-Q. | 36.5% for the quarter ended August 1, 2026; Marvell Form 10-Q. |
| Reported segment detail | $20.839 billion semiconductor solutions and $8.752 billion infrastructure software for the quarter ended August 2, 2026; Broadcom Form 10-Q. | 46% data-center sales growth for the quarter ended August 1, 2026; Marvell Form 10-Q. |
Which company has the stronger recent growth signal?
Broadcom: substantial AI-related semiconductor sales alongside software growth
Broadcom reported $10.8 billion in AI semiconductor revenue for Q2 FY2026, up 143% year over year. CEO Hock E. Tan said on June 3, 2026, that growth was driven by demand for custom AI accelerators and AI networking. This is a company-reported result and explanation for an earlier quarter than the August 2026 filing; it is not a forecast of future growth. Broadcom’s Q2 FY2026 results release contains the statement.
Marvell: faster reported quarterly growth from a smaller revenue base
Marvell’s 36.5% year-over-year revenue growth and 46% data-center sales growth in the quarter ended August 1, 2026, make its recent growth more concentrated in a clearly identified data-center driver. Marvell linked that demand to AI-related activity in its Form 10-Q. These reported rates describe that quarter; they do not establish how long the pace will continue.
For longer-term context, Marvell’s 2026 proxy statement reports fiscal 2026 revenue of $8.195 billion, approximately 38% higher than fiscal 2023, and GAAP diluted EPS of $3.07 in fiscal 2026 versus a loss of $0.19 in fiscal 2023. The filing is Marvell’s DEF 14A filed May 13, 2026. Broadcom’s Q3 FY2026 company overview reports fiscal 2025 revenue of $63.887 billion and non-GAAP free cash flow of $26.914 billion. Those figures use different fiscal periods and, for cash flow, a non-GAAP measure; they offer scale context only, not a like-for-like growth or profitability comparison.
What do margins and customer concentration tell you?
Broadcom reported a 69% gross margin for the quarter ended August 2, 2026; Marvell reported a 53.1% GAAP gross margin for the quarter ended August 1, 2026. These are company-reported figures from their respective Broadcom and Marvell filings. They should not be treated as a direct quality ranking: Broadcom has a substantial software segment, and its filing notes that software has a higher gross margin than semiconductor solutions. Differences in business mix and reporting basis matter. Investors comparing profitability or cash generation should also normalize GAAP and non-GAAP definitions rather than placing unlike measures side by side.
Broadcom disclosed that its five largest end customers represented approximately 55% of revenue in the quarter and 50% of revenue across the first three fiscal quarters through August 2, 2026; it expects concentration to persist. That makes customer demand and purchasing patterns material risks even for a highly diversified company by business segment. Marvell’s cited filing does not state a directly comparable top-five customer share, so a lower or higher concentration should not be inferred from the available figures.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How exposed are both stocks to AI infrastructure risks?
Both companies can benefit when customers build AI data centers and buy the chips, networking products, or related infrastructure those systems require. The same exposure means that investment cycles, customer plans, and the timing of deployments can affect results. Marvell’s August 2026 Form 10-Q warns that delayed data-center builds, power or permitting constraints, reduced customer spending, changing technology needs, and competition can hurt demand or performance. It also states, “The semiconductor industry is extremely competitive.” These are company-identified risks, not predictions that any one event will occur.
Broadcom’s filings similarly connect semiconductor growth to custom AI accelerators and AI networking, while its software business has a distinct driver in VMware Cloud Foundation. That mix broadens the sources of revenue, but it does not remove Broadcom’s disclosed customer concentration or the risks attached to semiconductor demand and execution.
Quick Recap
Which business profile may fit your portfolio?
- Consider Broadcom’s profile if you prioritize greater scale and a mix of semiconductor and infrastructure-software revenue, while accepting substantial exposure to a small number of customers and AI-related semiconductor demand.
- Consider Marvell’s profile if you are more interested in a smaller business with strong recent data-center-led growth and are comfortable with the possibility that AI infrastructure demand, deployment timing, or competition could alter that pace.
- Compare both further if your decision depends on valuation, expected return, or portfolio concentration. Those require current share prices and consistent earnings or cash-flow measures; the reported growth rates alone do not answer them.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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