So, what's going on with Marvell Technology (MRVL) stock? Well, the company is getting ready for a big show-and-tell. On Tuesday, Marvell said it will be showcasing its latest AI-focused data center connectivity solutions at DesignCon 2026, which is scheduled for February 24–26 at the Santa Clara Convention Center in California.

Here's the interesting part of their pitch: Marvell says "the primary bottleneck in AI data center infrastructure has shifted from compute to connectivity." Think about it. As AI workloads get more complex and demanding, it's not just about having the fastest chips anymore. It's about how you move massive amounts of data between those chips, across servers, and throughout the entire rack. That's the new choke point. So, Marvell is focusing on advancing interconnect technologies at the package, server, and rack levels to deliver higher bandwidth, better power efficiency, and performance that can actually scale.

Wall Street Keeps Upping the Ante

This push from Marvell isn't happening in a vacuum. It's landing just as Wall Street keeps raising its long-term expectations for how much money will be spent on AI infrastructure. It's like the goalposts keep moving further down the field.

Take Bank of America (BAC), for example. They now see a total addressable market for AI data-center systems hitting a staggering $1.4 trillion by 2030. That's up from a previous estimate of $1.2 trillion. Why the bump? The firm cites strengthening cloud spending plans and improving visibility into the supply chain. They expect overall data-center systems revenue to grow 64% in 2026, with the AI-specific portion of that surging by 100% as more AI accelerators get deployed.

An interesting detail from their analysis: most of the projected growth for 2026 in high-bandwidth memory (75%) and advanced packaging capacity (70%) was actually secured last year. And here's a classic move in a hot market: AI chipmakers are expected to pass those higher memory costs right along to their customers to protect their own margins.

What the Analysts Are Saying

On Marvell specifically, analysts are still leaning positive. Bank of America pointed to growth coming from the XConn acquisition and strength in products like Trn3 and 800G/1.6T optical products through fiscal 2027. They did note, however, that visibility into the company's next-generation programs is a bit limited until we get closer to 2027.

KeyBanc (KEY) is also maintaining a bullish stance. Their analyst, John Vinh, pointed to continued hyperscaler-driven data center demand as a tailwind for the company, even with some tightening in memory supply. The message is that the outsized demand from big cloud companies is still a powerful force.

As for the stock, Marvell Technology shares were up 0.54% at $78.81 during premarket trading on Wednesday, according to market data.