Why Is Marvell Technology Stock Gaining Today?

Marvell Technology, Inc. (NASDAQ:MRVL) shares are trading higher on Monday. The company disclosed the development of the FBNIC, a custom 5nm network interface controller (NIC) ASIC created in partnership with Meta Platforms, Inc. (NASDAQ:META) to address the company’s infrastructure needs.

Marvell will also contribute the FBNIC board design to the Open Compute Project (OCP) community.

The FBNIC integrates a custom network controller from Marvell with a co-designed board and Meta’s ASIC, firmware, and software.

This specialized design boosts capabilities, optimizes performance, enhances efficiency, and reduces the time needed to resolve network and server issues.

Raghib Hussain, President of Products and Technologies at Marvell, said, “The future of large-scale, data center computing will increasingly revolve around optimizing semiconductors and other components for specific applications and cloud infrastructure architectures.”

“It’s been exciting to partner with Meta on developing their custom FBNIC on our industry-leading 5nm accelerated infrastructure silicon platform. We look forward to the OCP community leveraging the board design for future innovations.”

Marvell also announced that it will showcase next-generation silicon technologies, including PAM4 DSPs, PCIe retimers, Ethernet network switches, and Compute Express Link (CXL) devices at the 2024 OCP Global Summit, October 15-17, in San Jose, California.

Investors can gain exposure to the stock via Spear Alpha ETF (NASDAQ:SPRX) and iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:IDGT)

Price Action: MRVL shares are up 3.85% at $76.86 at the last check Monday.

Photo via Shutterstock

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