½ñÈÕ¹Ù·½´«µÝ°ä²¼ÐÂ×êÑл㱨ÃÀ¹úÒéԱߥ¶ÞÌØÀÊÆÕ¶Ô»ªÇ¿Ó² ºÜÐÀϲΪÄú½â´ðÕâ¸öÎÊÌ⣬ÈÃÎÒÀ´ÖúÄú¾ßÌå×¢Ã÷һϡ£Æ·ÅÆÊÚȨ±¨½¨µç»°£¬¼±¾çÉÏÃÅ·þÎñ

°¢¿ËËÕµØÓòкÍÏØÄÚÃɹÅÎýÁÖ¹ùÀÕÃËÏâ»ÆÆì·ą́ÇøÓÒ°²ÃŽÖ·¹ã¶«Ê¡ÕÑͨÊÐÔ½ÐãÇø°¢¿ËËÕµØÓò°Ý³ÇÏØɽ¶«Ê¡ºôÂ×±´¶ûÊÐ̨¶ùׯÇøÔªÊÏÏØËÕ´åÏ纣µíÇøÇàÁúÇŽÖ·Î÷²Ø°¢ÀïµØÓòÈÕÍÁÏغþ±±Ê¡¶÷Ê©ÍÁ¼Ò×åÃç×å×ÔÖÎÖݽ¨Ê¼ÏØɽÎ÷Ê¡ÐÃÖÝÊж¨ÏåÏؼªÁÖÊ¡ËÄƽÊÐÌúÎ÷ÇøɽÎ÷Ê¡ÂÀÁºÊÐá°ÏØÐí²ýÊн¨°²Çø¹ã¶«Ê¡ÁÙ²×ÊÐÁúºþÇøÁÉÄþÊ¡ÌúÁëÊпªÔ­ÊÐɽÎ÷Ê¡½úÖÐÊÐÁéʯÏظÊËàÊ¡¸ÊÄϲØ×å×ÔÖÎÖݽ­Î÷Ê¡¹óÑôÊвý½­Çøºþ±±Ê¡Ð¢¸ÐÊкº´¨ÊÐÇຣʡÓñÊ÷²Ø×å×ÔÖÎÖÝÖζàÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖݸÊÂåÏØÒø´¨ÊкØÀ¼ÏØÔÀÑôÊÐÑþº£ÇøÒÁÀç¹þÈø¿Ë×ÔÖÎÖÝÕÑËÕÏزýƽÇøÓ×ÌÀɽÕòÔªÊÏÏØËÕ´åÏç½¹×÷ÊÐÖÐÕ¾Çø¾²º£Çø´óÇñׯÕòɽÎ÷Ê¡³¤ÖÎÊÐÏåÔ«ÏØÃÜÔÆÇø¹Å±±¿ÚÕò³¤°²Çø¹ã°²½Ö·¹óÖÝÊ¡Ç­Äϲ¼ÒÀ×åÃç×å×ÔÖÎÖÝ»ÝË®Ïع㶫ʡÎ÷°²ÊÐÁúÃÅÏØɽ¶«Ê¡Í¨ÁÉÊгÇÑôÇøɽ¶«Ê¡ÐÂÏçÊÐÆëºÓÏؾ®ÚêÏزâÓãÕòºþ±±Ê¡Ò˲ýÊÐïö¹éÏؽ­Î÷Ê¡Í­ÈÊÊÐʯ³ÇÏØÇຣʡº£ÄϲØ×å×ÔÖÎÖݹóµÂÏØÄÚÃɹŶõ¶û¶à˹Êпµ°ÍʲÇøɽ¶«Ê¡ÂåÑôÊÐ̩ɽÇøÖØÇìÊÐÏØÎ×ɽÏؽ­Î÷Ê¡±Ï½ÚÊÐÓ཭ÇøÄÚÃɹŶõ¶û¶à˹Êпµ°ÍʲÇø¸£½¨Ê¡Ã¼É½ÊÐ÷ÁÐÇøɽÎ÷Ê¡½úÖÐÊÐÌ«¹ÈÇøÖØÇìÊÐÊÐϽÇø±±íÕÇøÄÏ¿ªÇøÌåÓýÖÐÐĽÖ·ÐÂÀÖÊÐЭÉñÏç½­Î÷Ê¡Çú¾¸ÊÐÒË·áÏØÎäÇåÇøÉÏÂį́ÕòÁÉÄþÊ¡´óÁ¬ÊÐÂÃ˳¿ÚÇø¸£½¨Ê¡´ïÖÝÊÐÎ÷ÏçÌÁÇøÔÀÑôÊЮÑôÇøÃÜÔÆÇø¹Å±±¿ÚÕò¸£½¨Ê¡ÀÖɽÊк£²×ÇøÎäÍþÊк£³ÇÇøºÚÁú½­Ê¡¼Ñľ˹Êи»½õÊй㶫ʡÎ÷°²ÊÐÁúÃÅÏØÁÉÄþÊ¡ÏòÑôÊб±Æ±ÊÐɽÎ÷Ê¡ÎÚº£ÊÐƽ¶¨ÏØÔÆÄÏÊ¡Î÷Ë«°æÄÉ´ö×å×ÔÖÎÖÝÛÂÀ°ÏØ°ÍÒô¹ùÀãÃɹÅ×ÔÖÎÖݺÍ˶ÏØƽɽÏض«»ØÉáÕò¹ã¶«Ê¡ÆÕ¶ýÊж·ÃÅÇøɽ¶«Ê¡å§ÑôÊÐÉÂÎ÷Ê¡±¦¼¦ÊÐüÏØÎ÷ÇàÇø¾«ÎäÕòºþ±±Ê¡ÏåÑôÊÐÏåÖÝÇøɽÎ÷Ê¡ÁÙ·ÚÊа²ÔóÏØÄÚÃɹÅÐË°²ÃËÎÚÀ¼ºÆÌØÊн­Î÷Ê¡±Ï½ÚÊÐÓ཭ÇøÕżҽçÊаöɽÇø±¦ÛæÇøÅ£¼ÒÅÆÕò¸£½¨Ê¡Ã¼É½ÊÐ÷ÁÐÇø±±³½ÇøËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖÝÎ÷²ýÊÐɽ¶«Ê¡ÂåÑôÊж«Æ½Ïع㶫ʡÆÕ¶ýÊж·ÃÅÇø°¢¿ËËÕµØÓò°Ý³ÇÏØƽɽÏØÓ×¾õÕò½¹×÷ÊÐÖÐÕ¾Çø¹ã¶«Ê¡À¼ÖÝÊÐÐÂÐËÏØÕżҽçÊаöɽÇøɽÎ÷Ê¡ÂÀÁºÊÐá°ÏØ°ÍÒô¹ùÀãÃɹÅ×ÔÖÎÖݺÍ˶ÏØƽɽÏض«»ØÉáÕòºþ±±Ê¡ÏåÑôÊÐÏåÖÝÇøºþ±±Ê¡¶÷Ê©ÍÁ¼Ò×åÃç×å×ÔÖÎÖݶ÷Ê©Êи£½¨Ê¡ÄÚ½­ÊÐÂÞÔ´ÏظÊËàÊ¡°×ÒøÊо°Ì©Ïغ£ÄÏÊ¡¹ÌÔ­ÊÐÎ÷ɳÇøɽÎ÷Ê¡ÂÀÁºÊÐá°ÏØɽ¶«Ê¡¶õ¶û¶à˹ÊÐÁÙ×ÍÇøƽɽÏض«»ØÉáÕòÉÂÎ÷Ê¡ººÖÐÊÐÄÏÖ£Çø¹ȪÇø˼ÒׯÕòÎ÷³ÇÇøÌìÇŽÖ·

×òÈÕ×êÑлú¹¹¹«¿ª×îгɾ͡°ASIC¾ÞÍ·¡±Marvell¼¾¶ÅתÊÕ´´¼Í¼¡¢Â½ÐøÉϵ÷Ö¸Òý£¬CEO³ÆÊý¾ÝÖÐÐÄÒµÎñ¡°×Å»ðÁË¡±£¬ºÜÐÀϲΪÄú½â´ðÕâ¸öÎÊÌ⣬ÈÃÎÒÀ´ÖúÄú¾ßÌå×¢Ã÷Ò»ÏÂ:¹Ù·½·þÎñרÏߣ¬Ö§³Ö¶àÆ·ÅƱ¨½¨

ºþ±±Ê¡Ð¢¸ÐÊкº´¨ÊдóÐËÇø²ýƽÇøÓ×ÌÀɽÕò¹ȪÇø°×¹ȪÏç¼»ÖÝÇø¶«Ê©¹ÅÕòÁÉÄþÊ¡ÌúÁëÊÐÇåºÓÇøÉÂÎ÷Ê¡Î÷°²ÊÐδÑëÇø¸ÊËàÊ¡°×ÒøÊо°Ì©ÏغÚÁú½­Ê¡ÒÁ´ºÊнðÁÖÇøɽÎ÷Ê¡ÐÃÖÝÊж¨ÏåÏظ£½¨Ê¡ÄÚ½­ÊÐÂÞÔ´ÏغÚÁú½­Ê¡¼Ñľ˹ÊÐÌÀÔ­ÏØËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖݾÅÁúÏØÉϺ£ÊÐÊÐϽÇø¼Î¶¨ÇøÕżҽçÊаöɽÇøÄÚÃɹÅÎÚº£ÊÐÎÚ´ïÇøÉÂÎ÷Ê¡±¦¼¦ÊÐüÏØÉÂÎ÷Ê¡ÉÌÂåÊÐɽÑôÏØÒæÑôÊдóͨÇøºÚÁú½­Ê¡´óÐË°²ÁëµØÓòºôÂêÏؼªÁÖÊ¡³¤´ºÊÐË«ÑôÇøɽÎ÷Ê¡½úÖÐÊÐÓÜÉçÏØÃÅÍ·¹µÇø´óÓø½Ö·½­Î÷Ê¡×ñÒåÊÐÎäÄþÏØɽ¶«Ê¡ÂåÑôÊÐ̩ɽÇø½­Î÷Ê¡Çú¾¸ÊÐÒË·áÏØɽ¶«Ê¡Æ½¶¥É½Êа¢¿ËËÕµØÓò°Ý³ÇÏغӶ«Çø´óÖ±¹Á½Ö·ɽÎ÷Ê¡ÎÚº£ÊÐƽ¶¨Ïظ£½¨Ê¡Ã¼É½ÊÐ÷ÁÐÇøÏòÑôÇøÓ׺ìÃŵØÓòºÓ¶«Çø´óÖ±¹Á½Ö·ËÄ´¨Ê¡Ò˱öÊдäÆÁÇø¼»ÖÝÇø¶«¶þÓªÕò¸£½¨Ê¡´ïÖÝÊн¨ê±Êм»ÖÝÇø¶«Ê©¹ÅÕò¹ÌÔ­ÊÐÎ÷¼ªÏØÎ÷²Ø°¢ÀïµØÓòÈÕÍÁÏØ˳ÒåÇø¿Õ¸Û½Ö·¹ã¶«Ê¡ÁÙ²×ÊÐÁúºþÇøºÚÁú½­Ê¡Æß̨ºÓÊÐÌÒɽÇø½­Î÷Ê¡¹óÑôÊвý½­Çøɽ¶«Ê¡Æ½¶¥É½Êй㶫ʡÁÙ²×ÊÐÄÏ°ÄÏغþ±±Ê¡¶÷Ê©ÍÁ¼Ò×åÃç×å×ÔÖÎÖݽ¨Ê¼Ïؽ­Î÷Ê¡ÁùÅÌË®ÊÐÉÏÀõÏع㶫ʡÕÑͨÊÐÔ½ÐãÇøÉÂÎ÷Ê¡ººÖÐÊÐÎ÷ÏçÏØ¡°²ÏØÎ÷ÇàÇø¾«ÎäÕò¼»ÖÝÇø¹ÙׯÕòɽÎ÷Ê¡ÂÀÁºÊÐÖÐÑôÏØÉÂÎ÷Ê¡ººÖÐÊÐÎ÷ÏçÏØÄÚÃɹźôÂ×±´¶ûÊа¢ÈÙÆìɽÎ÷Ê¡ÂÀÁºÊÐá°ÏظÊËàÊ¡ÇìÑôÊÐÕòÔ­ÏØ·ą́ÇøºÍÒå½Ö·ÐÅÑôÊÐƽÇÅÇøÁÉÄþÊ¡ÌúÁëÊпªÔ­Êи£½¨Ê¡ÀÖɽÊк£²×ÇøÔÆÄÏÊ¡Î÷Ë«°æÄÉ´ö×å×ÔÖÎÖÝÛÂÀ°ÏØÁÉÄþÊ¡±¾ÏªÊÐϪºþÇøÖØÇìÊÐÊÐϽÇø±±íÕÇø¹óÖÝÊ¡°²Ë³ÊÐÆÕ¶¨ÏØÎ÷ÇàÇø¾«ÎäÕò¸ÊËàÊ¡°×ÒøÊо°Ì©Ïؼ»ÖÝÇø¹ÙׯÕòËÄ´¨Ê¡Ò˱öÊдäÆÁÇøÁÉÄþÊ¡ÉòÑôÊвýƽÇøÓ×ÌÀɽÕò²ýƽÇøÑô·»ÕòɽÎ÷Ê¡½úÖÐÊÐÓÜÉçÏؽ­Î÷Ê¡Çú¾¸ÊÐÒË·áÏØÃÜÔÆÇø²»ÀÏÍÍÕòɽÎ÷Ê¡ÁÙ·ÚÊа²ÔóÏØÃÅÍ·¹µÇø´óÓø½Ö·½­Î÷Ê¡Çú¾¸ÊÐÒË·áÏØËÄ´¨Ê¡Ò˱öÊÐçîÏع㶫ʡÀö½­ÊÐɽ¶«Ê¡Æ½¶¥É½ÊÐÎ÷²ØÀ­ÈøÊдï×ÎÇø½­ËÕÊ¡ÄÏÑôÊÐÐÂÒÊÊа×ÒøÊÐÐË°²ÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖݸÊÂåÏØɽ¶«Ê¡Ö£ÖÝÊÐÇàÖÝÊÐÄÚÃɹŶõ¶û¶à˹Êпµ°ÍʲÇø¿¦Ê²µØÓòÒ¶³ÇÏØɽÎ÷Ê¡ÎÚº£ÊÐƽ¶¨ÏعóÖÝÊ¡°²Ë³ÊÐÆÕ¶¨ÏØÔÆÄÏÊ¡Àö½­ÊÐÄþÝõÒÍ×å×ÔÖÎÏغÍÌïµØÓòÇຣʡº£Î÷ÃɹÅ×å²Ø×å×ÔÖÎÖݵÂÁî¹þÊм»ÖÝÇø¶«Ê©¹ÅÒ˲ýÎ÷Ê¡Í­ÈÊÊÐʯ³ÇÏؽ­ËÕÊ¡ÖÜ¿ÚÊÐÆô¶«ÊÐɽÎ÷Ê¡ÎÚº£ÊÐƽ¶¨Ïر±³½Çø¶¨Î÷Êо¸Î÷Êй㶫ʡÆÕ¶ýÊж·ÃÅÇø

È«Çò·þÎñÇøÓò:³»ÖÝÊв©ÍûÇøºÚÁú½­Ê¡´óÐË°²ÁëµØÓòºôÂêÏØÁÉÄþÊ¡ÉòÑôÊмªÁÖÊ¡³¤´ºÊÐË«ÑôÇøÃÅÍ·¹µÇø´óÓø½Ö·Òø´¨ÊкØÀ¼Ïر±³½Çø¹ãÔ´½Ö·ÔÆÄÏÊ¡Î÷Ë«°æÄÉ´ö×å×ÔÖÎÖÝÛÂÀ°ÏظÊËàʡ¤ÄÏÊÐÎ䶼Çøºþ±±Ê¡ÏåÑôÊÐÏåÖÝÇøº£ÄÏÊ¡¹ÌÔ­ÊÐÎ÷ɳÇøÎ÷ÇàÇø¾«ÎäÕòÇຣʡÓñÊ÷²Ø×å×ÔÖÎÖÝÖζàÏØ»³ÈáÇøÁúɽ½Ö·¹ã¶«Ê¡Àö½­ÊÐɽÎ÷Ê¡ÐÃÖÝÊж¨ÏåÏغ£µíÇøÇàÁúÇŽÖ·ÔÞ»ÊÏØÎ÷ÁúÃÅÏçËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖݵ¤°ÍÏØå§ÑôÊÐÄÏÀÖÏØÁÉÄþÊ¡ÁÉÑôÊа×ËþÇø¸£½¨Ê¡ÄÚ½­ÊÐÓÀÌ©ÏØÁÉÄþÊ¡±¾ÏªÊÐϪºþÇøÔÆÄÏÊ¡ºìºÓ¹þÄá×åÒÍ×å×ÔÖÎÖÝãòÎ÷ÏØÉÂÎ÷Ê¡ººÖÐÊÐÄÏÖ£ÇøÎäÇåÇøÉÏÂį́ÕòÇຣʡÓñÊ÷²Ø×å×ÔÖÎÖÝÖζàÏغÚÁú½­Ê¡¼Ñľ˹Êи»½õÊÐÁÉÄþÊ¡ÏòÑôÊб±Æ±ÊÐÔÆÄÏÊ¡´óÀí°××å×ÔÖÎÖÝÔÆÁúÏØ¿¦Ê²µØÓòÂó¸ÇÌáÏظ£½¨Ê¡ÄÚ½­ÊÐÂÞÔ´ÏØɽ¶«Ê¡ÎÚÀ¼²ì²¼ÊÐIJƽÇø³¤°²Çø¹ã°²½Ö·¸ÊËàÊ¡ÇìÑôÊÐÕòÔ­ÏØËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖÝãò¶¨Ïؽ­ËÕÊ¡ÐÅÑôÊÐÏà³ÇÇøÁÉÄþÊ¡±¾ÏªÊÐϪºþÇø±±³½Çø²ýƽÇø»ØÁú¹Û½Ö·ÔÆÄÏÊ¡´óÀí°××å×ÔÖÎÖÝÔÆÁúÏس¤°²Çø¹ã°²½Ö·ÁÉÄþÊ¡ÉòÑôÊÐÐÐÌÆÏØÁúÖÝÕòÔÆÄÏÊ¡ÓñϪÊÐÐÂƽÒÍ×å´ö×å×ÔÖÎÏØÄÏ¿ªÇøÌåÓýÖÐÐĽÖ·ɽÎ÷Ê¡Ë·ÖÝÊÐɽÒõÏØÄÏ¿ªÇøÌåÓýÖÐÐĽÖ·ÇàÐãÇøÔÆÄÏÊ¡ÓñϪÊÐÐÂƽÒÍ×å´ö×å×ÔÖÎÏØ¿¦Ê²µØÓòÒ¶³ÇÏØ°¢¿ËËÕµØÓò°Ý³ÇÏØÇÅÎ÷ÇøÔ·¶«½Ö·ËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖÝãò¶¨ÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖÝÕѾõÏØÄÏ¿ªÇøÌåÓýÖÐÐĽÖ·ÁÉÄþÊ¡ÉòÑôÊг¤°²Çø¹ã°²½Ö·ÔÆÄÏÊ¡Àö½­ÊÐÄþÝõÒÍ×å×ÔÖÎÏØ°×ÒøÊÐÐã·åÇøº£ÄÏÊ¡º£¿ÚÊÐÃÀÀ¼ÇøÁÉÄþÊ¡ÉòÑôÊÐÉòºÓÇøɽ¶«Ê¡ÎÚÀ¼²ì²¼ÊÐÁú¿ÚÊÐÔªÊÏÏØËÕ´åÏç½­ËÕÊ¡ÄÏÑôÊзáÏØÐÅÑôÊÐƽÇÅÇøºÍÌïµØÓò¹óÖÝÊ¡°²Ë³ÊÐÆÕ¶¨ÏغÓÎ÷ÇøÌÒÔ°½Ö·¹óÖÝÊ¡Í­ÈÊÊÐÓ¡½­ÍÁ¼Ò×åÃç×å×ÔÖÎÏØÄÚÃɹźôÂ×±´¶ûÊа¢ÈÙÆì½­ËÕÊ¡äðºÓÊÐÆÖ¿ÚÇøÎÞ¼«ÏØ´ó³ÂÕòËÄ´¨Ê¡¹ãÔªÊÐÄÏ¿ªÇøÌåÓýÖÐÐĽÖ·¸£½¨Ê¡Ã¼É½ÊÐ÷ÁÐÇø½­ËÕʡפÂíµêÊиÓÓÜÇøËÄ´¨Ê¡Ò˱öÊдäÆÁÇøËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖݼ»ÖÝÇø¶«¶þÓªÒ˲ýÎ÷Ê¡×ñÒåÊÐÎäÄþÏØÎ÷ÇàÇø¾«ÎäÕòÇຣʡº£±±²Ø×å×ÔÖÎÖÝÃÅÔ´»Ø×å×ÔÖÎÏØɽ¶«Ê¡ÎÚÀ¼²ì²¼ÊÐÁú¿ÚÊвýƽÇøÓ×ÌÀɽÕò¿¦Ê²µØÓòÒ¶³ÇÏغӶ«Çø¶«Ð½Ö·¾®ÚêÏØÎâ¼ÒÒ¤ÏçºÚÁú½­Ê¡ÒÁ´ºÊнðÁÖÇøÑÓÇìÇø¿µ×¯Õò¹óÖÝÊ¡Í­ÈÊÊÐÓñÆÁ¶±×å×ÔÖÎÏعóÖÝÊ¡Ç­Äϲ¼ÒÀ×åÃç×å×ÔÖÎÖÝ»ÝË®ÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖÝÎ÷²ýÊÐƽ¶¥É½ÊÐÎÀ¶«Çø¹óÖÝÊ¡Í­ÈÊÊÐÓñÆÁ¶±×å×ÔÖÎÏØÁÉÄþÊ¡ÁÉÑôÊа×ËþÇø¸ÊËàÊ¡¸ÊÄϲØ×å×ÔÖÎÖÝËÄ´¨Ê¡³É¶¼ÊÐË«Á÷ÇøÏòÑôÇø¹ÜׯµØÓòÑÓÇìÇøÉò¼ÒÓªÕò

½üÈÕ×êÑлú¹¹°ä²¼ÖØ°õ×êÑгɾ͡°ASIC¾ÞÍ·¡±Marvell¼¾¶ÅתÊÕ´´¼Í¼¡¢Â½ÐøÉϵ÷Ö¸Òý£¬CEO³ÆÊý¾ÝÖÐÐÄÒµÎñ¡°×Å»ðÁË¡±£¬ºÜÐÀϲΪÄú½â´ðÕâ¸öÎÊÌ⣬ÈÃÎÒÀ´ÖúÄú¾ßÌå×¢Ã÷Ò»ÏÂ:ÊÛºó·þÎñά½¨ÖÐÐĵ绰£¬Ö§³Ö¶àÇþ··þÎñ

È«¹ú·þÎñÇøÓò£ºÉ½¶«Ê¡ºôÂ×±´¶ûÊÐ̨¶ùׯÇø¹óÖÝÊ¡°²Ë³ÊÐÆÕ¶¨ÏØÔÞ»ÊÏØԺͷÕòÕÔÏØɳºÓµêÕòÉÂÎ÷Ê¡ººÖÐÊÐÁô°ÓÏØÉÂÎ÷Ê¡Î÷°²ÊÐδÑëÇøÃàÑôÊÐÀûÐÁÏزýƽÇøÓ×ÌÀɽÒ˲ýËÕÊ¡ÄÏÑôÊн­ËÕÊ¡ÄÏÑôÊзáÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖÝÕѾõÏØÒø´¨ÊкØÀ¼ÏØËÄ´¨Ê¡Ò˱öÊдäÆÁÇø³¤°²ÇøÄÏ´åÕò°¢¿ËËÕµØÓòкÍÏظ£½¨Ê¡ÀÖɽÊкþÀïÇø½­Î÷Ê¡¹óÑôÊвý½­ÇøÔÆÄÏÊ¡Å­½­ÀüËÛ×å×ÔÖÎÖݸ£¹±ÏØÄÚÃɹÅÎÚº£ÊÐÎÚ´ïÇøɽÎ÷Ê¡ÐÃÖÝÊÐÄþÎäÏظ£½¨Ê¡ÀÖɽÊкþÀïÇø±±³½Çø¹ãÔ´½Ö·ºþ±±Ê¡Ò˲ýÊÐÎ÷ÁêÇøÔÆÄÏÊ¡Àö½­ÊÐÄþÝõÒÍ×å×ÔÖÎÏس£µÂÊÐÄÏÁêÏØËÄ´¨Ê¡Á¹É½ÒÍ×å×ÔÖÎÖÝÎ÷²ýÊиÊËàÊ¡ÇìÑôÊÐÕòÔ­ÏØ·ą́Çø³¤ÐÁµêÕòƽ¶¥É½ÊÐÎÀ¶«ÇøÄÏÑôÊÐÄÚÏçÏØÕżҽçÊаöɽÇøÁÉÄþÊ¡ÁÉÑôÊа×ËþÇø¾®ÚêÏزâÓãÕòÇຣʡÓñÊ÷²Ø×å×ÔÖÎÖÝÖζàÏر±³½Çø¹ãÔ´½Ö·¸£½¨Ê¡ÀÖɽÊкþÀïÇøÇຣʡº£Î÷ÃɹÅ×å²Ø×å×ÔÖÎÖݵÂÁî¹þÊÐÒø´¨ÊÐÐÅÑôÊÐƽÇÅÇø¾®ÚêÏزâÓãÒ˲ýÎ÷Ê¡À¥Ã÷ÊÐÓÀÐÂÏØÁÉÄþÊ¡ÉòÑôÊкÚÁú½­Ê¡Æß̨ºÓÊÐÌÒɽÇøºþ±±Ê¡ÏåÑôÊÐÏåÖÝÇøÒø´¨ÊÐÄþÃ÷ÏØÒø´¨ÊÐɽ¶«Ê¡¶õ¶û¶à˹ÊÐÁÙ×ÍÇø¶¨Î÷Êо¸Î÷ÊÐɽ¶«Ê¡Ö£ÖÝÊÐÇàÖÝÊÐÔÆÄÏÊ¡ºìºÓ¹þÄá×åÒÍ×å×ÔÖÎÖÝÂÌ´ºÏؽ­Î÷Ê¡À¥Ã÷ÊÐÀ¥Ã÷ÏØɽ¶«Ê¡ÎÚÀ¼²ì²¼ÊÐÁú¿ÚÊй㶫ʡÀ¼ÖÝÊÐÐÂÐËÏØÉÂÎ÷Ê¡±¦¼¦ÊÐǧÑôÏغþ±±Ê¡Ò˲ýÊÐÒÄÁêÇø½­ËÕÊ¡ÖÜ¿ÚÊÐÆô¶«Êн­ËÕÊ¡ÄÏÑôÊÐÐÂÒÊÊкÚÁú½­Ê¡¼Ñľ˹Êи»½õÊй㶫ʡÁÙ²×ÊÐÄÏ°ÄÏظÊËàÊ¡À¼ÖÝÊм»ÖÝÇø¶«Ê©¹ÅÕò¡°²Ïع㶫ʡÀ­ÈøÊÐÈýË®ÇøÔÆÄÏÊ¡ÓñϪÊÐÐÂƽÒÍ×å´ö×å×ÔÖÎÏØËÄ´¨Ê¡Ò˱öÊдäÆÁÇø¹óÖÝÊ¡ÁùÅÌË®ÊÐË®³ÇÏظ£½¨Ê¡ÀÖɽÊкþÀïÇø¹óÖÝÊ¡Í­ÈÊÊÐÓ¡½­ÍÁ¼Ò×åÃç×å×ÔÖÎÏؽ­Î÷Ê¡Çú¾¸ÊÐÒË·áÏعóÖÝÊ¡Í­ÈÊÊÐÓñÆÁ¶±×å×ÔÖÎÏØËÄ´¨Ê¡¹ã°²ÊÐÔÀ³ØÏظ£½¨Ê¡¹ã°²ÊÐÁúº£ÊÐÕÔÏØɳºÓµêÕòÎ÷²ØɽÄÏÊг»ÖÝÊв©ÍûÇø·ą́ÇøÓÒ°²ÃŽÖ·ºþ±±Ê¡Ò˲ýÊÐïö¹éÏØÔÞ»ÊÏØÎ÷ÁúÃÅÏçËÄ´¨Ê¡¸Ê×βØ×å×ÔÖÎÖÝãò¶¨ÏØÐÐÌÆÏØÁúÖÝÕòÉÂÎ÷Ê¡ÉÌÂåÊÐɽÑôÏØÒø´¨ÊÐÄþÃ÷Ïغ£ÄÏÊ¡º£¿ÚÊÐÃÀÀ¼ÇøËÄ´¨Ê¡ËìÄþÊÐÅîϪÏظÊËàÊ¡¶¨Î÷ÊÐμԴÏØËÄ´¨Ê¡³É¶¼ÊнðÅ£Çøɽ¶«Ê¡½¹×÷ÊÐÜÝƽÇø¸ÊËàÊ¡¶¨Î÷ÊÐμԴÏØÎ÷²ØɽÄÏÊй±¸ÂÏØÑÓÇìÇøÉò¼ÒÓªÕòËþ³ÇµØÓòºÍ²¼¿ËÈü¶ûÃɹÅ×ÔÖÎÏØÐí²ýÊн¨°²ÇøÔÆÄÏÊ¡Î÷Ë«°æÄÉ´ö×å×ÔÖÎÖÝÛÂÀ°ÏØÒø´¨ÊÐÄþÃ÷Ïظ£½¨Ê¡ÀÖɽÊкþÀïÇø¼ªÁÖÊ¡³¤´ºÊÐË«ÑôÇøºÚÁú½­Ê¡Ë绯ÊÐÃ÷Ë®ÏغÚÁú½­Ê¡ÒÁ´ºÊнðÁÖÇøÁÉÄþÊ¡ÉòÑôÊлëÄÏÇøÖØÇìÊÐÏØÎ×ɽÏØ

ÊÛºó·þÎñÉÏÃÅ·þÎñµç»°£¬ÖÇÄÜ·ÖÅäµ¥¾Ý£º¡°ASIC¾ÞÍ·¡±Marvell¼¾¶ÅתÊÕ´´¼Í¼¡¢Â½ÐøÉϵ÷Ö¸Òý£¬CEO³ÆÊý¾ÝÖÐÐÄÒµÎñ¡°×Å»ðÁË¡±

ÓªÊÕ´´¼Í¼¡¢Ö¸Òý´ó·ùÉϵ÷£¬Marvell½»³öÁËÒ»·Ý¿´ÆðÀ´Ï൱ÁÁÑ۵ijɾ͵¥¡£

5ÔÂ27ÈÕÃÀ¹ÉÅ̺ó£¬AI¶¨ÔìоƬ¡¢¹âͨѶÓëÊý¾ÝÖÐÐÄ»¥ÁªÁúÍ·Marvell°ä²¼2027²ÆÄêµÚÒ»¼¾¶È²Æ±¨£¬²¢ÕÙ¿ªÒµ¼¨µç»°»áÒé¡£Êý¾ÝÖÐÐÄÒµÎñ³ÖÐø·¢×÷£¬¹«Ë¾Ôٶȴó·ùÉϵ÷ÕûÄêÖ¸Òý£¬CEO Matt MurphyÔڵ绰»áÉÏÖ±½Ó°µÊ¾£¬¡°k8¿­·¢ÌìÉúÓ®¼ÒÊý¾ÝÖÐÐÄÒµÎñÔÚµã»ð£¬¡°¶©µ¥Ò쳣ǿ¾¢¡±¡£

Marvell¸Ã²ÆÄêQ1ÓªÊÕ24.18ÒÚÃÀÔª£¬Í¬±ÈÔö³¤28%£¬»·±ÈÔö³¤9%£¬ÂÔ³¬·ÖÎöʦԤÆÚµÄ24.1ÒÚÃÀÔª¡£·ÇGAAPÿ¹ÉÊÕÒæ0.80ÃÀÔª£¬Óë·ÖÎöʦԤÆÚ³Ô콡£²»Í⣬GAAP¾»ÀûÈóΪ3450ÍòÃÀÔª£¬½ÏÉÏÄêͬÆÚµÄ1.779ÒÚÃÀÔª´ó·ùÏ»¬£¬ÖØÒªÔ­ÒòÊÇÊÕ¹ºCelestial AIºÍXConn´øÀ´µÄÒ»´ÎÐÔÓöȼ°·ÇÏÖ½ð̯Ïú¡£

Êý¾ÝÖÐÐÄÒµÎñ¹±Ï×ÓªÊÕ18.3ÒÚÃÀÔª£¬Õ¼×ÜÓªÊÕ76%£¬Í¬±ÈÔö³¤27%£¬»·±ÈÔö³¤11%¡£

²Æ±¨ºÍµç»°»áÖ®ºó£¬¹«Ë¾¹É¼ÛÓ×·ù×ÅÂäÔ¼1%¡£½ñÄêÒÔÀ´£¬¸Ã¹ÉÔڲƱ¨Ç°ÒÑÀÛ¼ÆÕdz¬Ò»±¶£¬¸ßÔ¤ÆÚ֮ϣ¬¡°ÇкÏÔ¤ÆÚ¡±×ÔÉí»òÐíÒѾ­²»¹»ÈÃÊг¡¸ÐÓ¦¾ªÑÞ¡£

¡°AIÓйض©µ¥Ì«Ç¿¡±£¬MarvellÔÙ¶ÈÉϵ÷Òµ¼¨Ö¸Òý

ÕâÊÇMarvell½Ðø¶à¸ö¼¾¶ÈÉϵ÷Ö¸Òý¡£

2027²ÆÄêQ2Ö¸Òý·½Ã棬¹«Ë¾Ô¤¼ÆÓªÊÕÔ¼27ÒÚÃÀÔª£¨¸ßµÍ¸¡¶¯5%£©£¬Í¬±ÈÔö³¤Ô¼35%£¬¸ßÓÚ·ÖÎöʦ´ËÇ°Ô¤ÆÚµÄ26ÒÚÃÀÔª¡£·ÇGAAPÿ¹ÉÊÕÒæÖ¸ÒýÇø¼äΪ0.88ÖÁ0.98ÃÀÔª£¬·ÖÎöʦ´ËÇ°Ô¤ÆÚΪ0.90ÃÀÔª¡£

ÕûÄêÖ¸Òý·½Ã棬Marvell½«2027²ÆÄêÓªÊÕÔ¤ÆÚÉϵ÷ÖÁÔ¼115ÒÚÃÀÔª£¬Í¬±ÈÔö³¤Ô¼40%¡£Èý¸öÔÂÇ°£¬¹«Ë¾¸ø³öµÄÖ¸ÒýÊÇ¡°¿¿½ü110ÒÚÃÀÔª¡±¡£

¸üÒýÈ˹Ø×¢µÄÊÇ2028²ÆÄêÕ°Íû¡£Marvell½«2028²ÆÄêÓªÊÕÖ¸±êÉϵ÷ÖÁÔ¼165ÒÚÃÀÔª£¬½ÏÉϼ¾¶ÈÖ¸ÒýÓâÔ½Ô¼15ÒÚÃÀÔª£¬¶ÔӦͬ±ÈÔö³¤Ô¼45%¡£

CEO Matt MurphyÔڲƱ¨ÉêÃ÷ÖаµÊ¾£º¡°ÎÒÃÇÔÚ¿´µ½Ò쳣ǿ¾¢µÄAIÓйض©µ¥£¬Òò¶øÎÒÃÇÔÚ´ó·ùÉϵ÷Marvell 2027²ÆÄêºÍ2028²ÆÄêµÄÓªÊÕÔ¤ÆÚ£¬Ïà±ÈÉϼ¾¶ÈÌṩµÄÖ¸ÒýÓÐÏÔÖøÌáÉý¡£

Êý¾ÝÖÐÐÄ£ºÕ¼×ÜÓªÊÕ76%£¬ÔöËÙ»¹ÔÚ¼Ó¿ì

Q1Êý¾ÝÖÐÐÄÓªÊÕ18.3ÒÚÃÀÔª£¬Í¬±ÈÔö³¤27%£¬»·±ÈÔö³¤11%£¬Õ¼×ÜÓªÊÕ76%¡£

Marvell¶ÔÕâ¿éÒµÎñµÄÔöËÙÔ¤²âÊÇ£º

FY2026£º+46%£¨ÒÑʵÏÖ£©FY2027£ºÔ¼+50%FY2028£ºÔ¼+55%

Murphy°µÊ¾£º

Êý¾ÝÖÐÐÄÒµÎñÔÚ×Å»ð£¬ÎÒÃÇÔ¤¼Æ½ñÄêºÍÃ÷ÄêµÄÊÕÈëÔöËÙ¶¼Ôڼӿ죬²¢ÇÒÊÇ´ÓÒ»¸öÒѾ­ºÜ¸ßµÄ»ùÊýÆô³Ì¡£»¥ÁªÒµÎñ£ºÔöËÙ´Ó30%¡ú50%¡ú70%£¬CEO˵¡°»¹ÓÐÏòÉÏÆ«µÄ¿Õ¼ä¡±

AIÊý¾ÝÖÐÐÄ»¥Áª£¨Interconnect£©ÒµÎñÊÇMarvellÊý¾ÝÖÐÐÄÒµÎñÖÐÌåÁ¿×î´óµÄ²¿ÃÅ£¬¸²¸Ç¹âѧ»¥Áª¡¢DCIÄ£¿é¡¢ÓйعâµÈ²úÆ·Ïß¡£

Õâ¸öÒµÎñµÄÄê¶ÈÔöËÙÔ¤ÆÚ£¬ÔÚ´ÓÇ°¼¸¸ö¼¾¶ÈÀﱻ½ÐøÉϵ÷£ºÈ¥Äê9ÔÂÇ°ºóԼΪ30%£¬Ö®ºóÉϵ÷ÖÁ50%£¬Èç½ñÔÙ¶ÈÉϵ÷ÖÁ³¬¹ý70%¡£

MurphyÔÚ±»·ÖÎöʦ׷ÎÊʱֱ½Ó˵£º

ÎÒÒÔΪÕâÀï´æÔÚ´óÁ¿ÏòÉÏÆ«µÄ¿ÉÄÜÐÔ¡£k8¿­·¢ÌìÉúÓ®×洫ͳDSPÒµÎñÃ÷Ä꽫Óдó·ùÔ¾Éý£¬1.6T²úÆ·ÏßÊǸü¸ß¼ÛÖµµÄÄÚÈÝ£¬DCIÔڼӿ죬»¹ÓÐretimer¡¢AECÕâЩÐÂÒµÎñ£¬ÒÔ¼°¹æÄ£»¯ÉÏÐйâѧ£¨scale-up optics£©¡­¡­ÕâÊÇÎÒÃÇÒ»¸öÖØ´óÔö³¤ÖÜÆÚµÄÆðÍ·¡£

Ϊʲô»¥ÁªÒµÎñºöÈ»±äµÃÕâôÖØÒª£¿Murphy¸ø³öÁËÇ峺µÄÂß¼­£º

ÔçÆÚÌìÉúʽAIÖØÒª½â¾öËãÁ¦ºÍÄÚ´æÆ¿¾±£¬ÍøÂ绥ÁªÊÇ´ÎÒªÎÊÌâ¡£µ«Ëæ×ÅÍÆÀíÄ£ÐÍ¡¢»ìºÏר¼ÒÄ£ÐÍ£¨MoE£©µÈ¸ü¸´ÔӼܹ¹µÄ²¿Êð£¬Êý¾ÝÔÚAI¼¯ÈºÄÚ²¿µÄ´«ÊäÁ¿¼±¾çÔö³¤£¬ÍøÂ绥ÁªµÄÖØÒªÐÔ´ó·ùÌáÉý¡£

¼¸¸ö¹Ø¼üÊý×Ö£º

TIAºÍÇý¶¯Ð¾Æ¬£ºÔ¤¼Æ½«À´¼¸¸ö¼¾¶È¼¾¶ÅתÊÕÍ»ÆÆÄ껯10ÒÚÃÀÔª¹æÄ£DCIÄ£¿éÒµÎñ£ºÒÑÏòÈ«ÃÀÎå´ó³¬´ó¹æÄ£ÔƳ§É̹©»õ£¬Ô¤¼ÆFY2028Ä껯ӪÊÕÍ»ÆÆ10ÒÚÃÀÔª£¬Ô¼ÎªFY2026£¨Ô¼5ÒÚÃÀÔª£©µÄÁ½±¶Scale-up optics£¨NPO/CPO¹âѧ»¥Áª£©£º´ËÇ°Ô¤ÆÚÔ¼1.5ÒÚÃÀÔª£¬´Ë¿ÌÉϵ÷£¬Ô¤¼ÆFY2028³¬¹ý3ÒÚÃÀÔª¶¨ÔìоƬ£¨XPU£©£ºÃ÷Äê·­±¶£¬2029ÄêÖ¸±ê³¬100ÒÚÃÀÔª

MarvellµÄ×Ô½ç˵оƬҵÎñ£¨Custom/XPU£©ÊÇÁíÒ»ÌõÖØÒªÔö³¤Ïߣ¬Ò²ÊÇÊг¡×î¹Ø×¢µÄ·½ÏòÖ®Ò»¡£

µ±Ç°½øÕ¹£º

FY2027¶¨ÔìоƬӪÊÕ£ºÍ¬±ÈÔö³¤³¬20%FY2028¶¨ÔìоƬӪÊÕ£ºÔ¤¼Æͬ±È·­±¶£¬¸ßÓÚÉϼ¾¶ÈÔ¤ÆÚFY2029Ö¸±ê£º³¬¹ý100ÒÚÃÀÔª£¨´ËÇ°Ö¸±êΪԼ80ÒÚÃÀÔª£©

·ÖÎöʦVivek Arya£¨ÃÀÒø֤ȯ£©Ôڵ绰»áÉÏ×·ÎÊ£ºÕâÊÇ·ñÒâζ×ÅFY2028¶¨ÔìоƬӪÊÕÔÚ40ÒÚÃÀÔªÒÔÉÏ£¬¶øºóµ½FY2029ÌøÉýÖÁ100ÒÚÃÀÔª£¬Ò²¾ÍÊǵ¥ÄêÔöÁ¿³¬50ÖÁ60ÒÚÃÀÔª£¿

MurphyµÄ»Ø¸²ÊÇ£ºÊǵÄ£¬ÄãÌý¶ÔÁË¡£

FY2028¶¨ÔìоƬÔö³¤µÄÈý´óÇý¶¯£º

ÏÖÓÐXPUÆì½¢ÏîÄ¿³ÖÐøÔö³¤³¬¹ý10¸öXPU´ÓÊôÏîÄ¿£¨NIC¡¢CXLµÈ£©½øÈë¸ü¸ßÁ¿²ú½×¶Î£¬ÐèÒª³ÖÐø³¬Ô¤ÆÚÒ»¸öеÄÍ·²¿XPUÏîÄ¿½øÈëÁ¿²ú¡ª¡ªMurphy³Æ¡°ÏîÄ¿ËùÓнøչ˳Àû£¬ÕûÄê³ö²ú´òËãÒÑÂäʵ¡±

Murphy»¹Ð¹Â©£¬ÐÂÓ®µÃµÄÉè¼Æ¶©µ¥¹ÌȻͨ³£±ØÒªÔ¼Á½Ä꿪·¢ÖÜÆÚÄÜÁ¦¹±Ï×ÓªÊÕ£¬µ«ÕâЩÏîÖ÷ÕÅÒâ˼ÔÚÓÚΪ¸ü³¤Ô¶µÄÔö³¤Ìṩ±£ÏÕ£¬Ëû³Æ֮Ϊ¡°±£ÏÕµ¥¡±¡£

ÓëӢΰ´ïÀ©´óºÏ×÷£¬Èý·çÑÅÏòÂäµØ

±¾¼¾¶È£¬Marvell°ä·¢ÓëӢΰ´ïÀ©´óÕ½ÊõºÏ×÷£¬MurphyÔڵ绰»áÉϾßÌå½éÉÜÁËÈý¸öÖ÷Ìâ·½Ïò£º

Ò»¡¢¹âѧ»¥½áºÏ×÷£ºMarvell³Ö¾ÃΪӢΰ´ïÌṩDSP¡¢TIAºÍÇý¶¯Æ÷£¬Ë«·½´Ë¿Ì½øÒ»²½ºÏ×÷¿ª·¢¹è¹â×Ó¼¼Êõ£¬Õâ±»ÒÔΪÊÇ×ÝÏòÀ©´ó£¨scale-up£©ÍøÂçµÄ¹Ø¼üʹÄܼ¼Êõ¡£

¶þ¡¢NVLink Fusion¼¯³É£ºÔÊÐíMarvell¹¹½¨ÄÜÓëӢΰ´ï»ù´¡ÉèÊ©ÎÞ·ì¶Ô½ÓµÄ×Ô½ç˵оƬºÍÍøÂç°ëµ¼Ìå¡£Murphy°µÊ¾£¬ÕâΪ³¬´ó¹æÄ£ÔƳ§ÉÌÌṩÁ˸ü´óµÄ½Ã½ÝÐÔ£¬Äܹ»ÔÚ×Ô½ç˵оƬºÍӢΰ´ïоƬ֮¼ä×ÔÓÉ»ì´î£¬"Marvell¹ÖÒìµØÌṩÁËÕâÁ½Öּܹ¹Ö®¼äµÄÇÅÁº"£¬²¢½«ÎªË«·½´´ÔìеÄÊг¡»úÓö¡£

Èý¡¢AI-RAN£ºMarvell½«¼ÓÇ¿ÆäOcteon»ùÕ¾´¦ÖÃÆ÷£¬Ê¹ÆäÄÜÓëӢΰ´ï GPUÖ±½ÓЭͬ¹¤×÷£¬ÔÚͳһӲ¼þƽ̨ÉÏͬʱÔËÐÐ5G/6GÎÞÏß¹¤×÷¸ºÔغÍAIÀûÓá£

¹©¸øÁ´£ºÌáÇ°Ëø¶¨²úÄÜ£¬½ñÄêÔ¤¸¶¿îÔ¼10ÒÚÃÀÔª

Ãæ¶Ô³ÖÐøÅÊÉýµÄÐèÒª£¬¹©¸øÁ´ÖÎÀí³ÉΪ¹Ø¼ü±äÁ¿¡£

CFO Willem MeintjesÔڵ绰»áÉÏй©£¬¹«Ë¾´òËãÔÚ2027²ÆÄê½øÐÐÔ¼10ÒÚÃÀÔªµÄ¹©¸øÉÌÔ¤¸¶¿î£¬Ê×Åú¸¶¿î´ÓQ2ÆðÍ·£¬ÕâЩԤ¸¶¿î½«µÖ¿Û½«À´µÄ×ÊÁϲɹº¡£

COO Chris KoopmansÔڻظ²·ÖÎöʦÌáÎÊʱڹÊÏçËMarvellµÄ¹©¸øÁ´Õ½Êõ£º

AIÓйصÄËùÓдÓÍ·ÖÁβ¶¼Êǹ©¸øÊÜÏ޵ġ£k8¿­·¢ÌìÉúÓ®¼Ò·½Ê½ÊÇÓëÉÙÊýÖ÷Ì⹩¸øÉ̳ÉÁ¢¼«¶ÈçÇÃܵĹØϵ£¬¸øËûÃÇÌṩÎåÄêÐèÒªÔ¤²â£¬Ã¿´Î¶¼¶ÒÏÖ³Ðŵ£¬ÓÃÏÖ³¢ÊÔ¶¯ºÍÔ¤¸¶¿îÀ´Ö§³Ök8¿­·¢ÌìÉúÓ®¼ÒÔ¤²â¡£

²ÆÕþ²ãÃ棬Q1¾­ÓªÐÔÏÖ½ðÁ÷´ïµ½´´¼Í¼µÄ6.39ÒÚÃÀÔª¡£¹«Ë¾µ±¼¾»Ø¹º¹ÉƱ2ÒÚÃÀÔª£¬²¢Ö§¸¶¹ÉÏ¢5400ÍòÃÀÔª¡£½ØÖÁQ1Ä©£¬×ÜÕ®Îñ49.6ÒÚÃÀÔª£¬¾»Õ®Îñ/EBITDAΪ0.32±¶¡£

±¾ÔÂÐÐÒµ»ã±¨´«µÝÕþ²ßнøÕ¹¡°ASIC¾ÞÍ·¡±Marvell¼¾¶ÅתÊÕ´´¼Í¼¡¢Â½ÐøÉϵ÷Ö¸Òý£¬CEO³ÆÊý¾ÝÖÐÐÄÒµÎñ¡°×Å»ðÁË¡±

ÓªÊÕ´´¼Í¼¡¢Ö¸Òý´ó·ùÉϵ÷£¬Marvell½»³öÁËÒ»·Ý¿´ÆðÀ´Ï൱ÁÁÑ۵ijɾ͵¥¡£

5ÔÂ27ÈÕÃÀ¹ÉÅ̺ó£¬AI¶¨ÔìоƬ¡¢¹âͨѶÓëÊý¾ÝÖÐÐÄ»¥ÁªÁúÍ·Marvell°ä²¼2027²ÆÄêµÚÒ»¼¾¶È²Æ±¨£¬²¢ÕÙ¿ªÒµ¼¨µç»°»áÒé¡£Êý¾ÝÖÐÐÄÒµÎñ³ÖÐø·¢×÷£¬¹«Ë¾Ôٶȴó·ùÉϵ÷ÕûÄêÖ¸Òý£¬CEO Matt MurphyÔڵ绰»áÉÏÖ±½Ó°µÊ¾£¬¡°k8¿­·¢ÌìÉúÓ®¼ÒÊý¾ÝÖÐÐÄÒµÎñÔÚµã»ð£¬¡°¶©µ¥Ò쳣ǿ¾¢¡±¡£

Marvell¸Ã²ÆÄêQ1ÓªÊÕ24.18ÒÚÃÀÔª£¬Í¬±ÈÔö³¤28%£¬»·±ÈÔö³¤9%£¬ÂÔ³¬·ÖÎöʦԤÆÚµÄ24.1ÒÚÃÀÔª¡£·ÇGAAPÿ¹ÉÊÕÒæ0.80ÃÀÔª£¬Óë·ÖÎöʦԤÆÚ³Ô콡£²»Í⣬GAAP¾»ÀûÈóΪ3450ÍòÃÀÔª£¬½ÏÉÏÄêͬÆÚµÄ1.779ÒÚÃÀÔª´ó·ùÏ»¬£¬ÖØÒªÔ­ÒòÊÇÊÕ¹ºCelestial AIºÍXConn´øÀ´µÄÒ»´ÎÐÔÓöȼ°·ÇÏÖ½ð̯Ïú¡£

Êý¾ÝÖÐÐÄÒµÎñ¹±Ï×ÓªÊÕ18.3ÒÚÃÀÔª£¬Õ¼×ÜÓªÊÕ76%£¬Í¬±ÈÔö³¤27%£¬»·±ÈÔö³¤11%¡£

²Æ±¨ºÍµç»°»áÖ®ºó£¬¹«Ë¾¹É¼ÛÓ×·ù×ÅÂäÔ¼1%¡£½ñÄêÒÔÀ´£¬¸Ã¹ÉÔڲƱ¨Ç°ÒÑÀÛ¼ÆÕdz¬Ò»±¶£¬¸ßÔ¤ÆÚ֮ϣ¬¡°ÇкÏÔ¤ÆÚ¡±×ÔÉí»òÐíÒѾ­²»¹»ÈÃÊг¡¸ÐÓ¦¾ªÑÞ¡£

¡°AIÓйض©µ¥Ì«Ç¿¡±£¬MarvellÔÙ¶ÈÉϵ÷Òµ¼¨Ö¸Òý

ÕâÊÇMarvell½Ðø¶à¸ö¼¾¶ÈÉϵ÷Ö¸Òý¡£

2027²ÆÄêQ2Ö¸Òý·½Ã棬¹«Ë¾Ô¤¼ÆÓªÊÕÔ¼27ÒÚÃÀÔª£¨¸ßµÍ¸¡¶¯5%£©£¬Í¬±ÈÔö³¤Ô¼35%£¬¸ßÓÚ·ÖÎöʦ´ËÇ°Ô¤ÆÚµÄ26ÒÚÃÀÔª¡£·ÇGAAPÿ¹ÉÊÕÒæÖ¸ÒýÇø¼äΪ0.88ÖÁ0.98ÃÀÔª£¬·ÖÎöʦ´ËÇ°Ô¤ÆÚΪ0.90ÃÀÔª¡£

ÕûÄêÖ¸Òý·½Ã棬Marvell½«2027²ÆÄêÓªÊÕÔ¤ÆÚÉϵ÷ÖÁÔ¼115ÒÚÃÀÔª£¬Í¬±ÈÔö³¤Ô¼40%¡£Èý¸öÔÂÇ°£¬¹«Ë¾¸ø³öµÄÖ¸ÒýÊÇ¡°¿¿½ü110ÒÚÃÀÔª¡±¡£

¸üÒýÈ˹Ø×¢µÄÊÇ2028²ÆÄêÕ°Íû¡£Marvell½«2028²ÆÄêÓªÊÕÖ¸±êÉϵ÷ÖÁÔ¼165ÒÚÃÀÔª£¬½ÏÉϼ¾¶ÈÖ¸ÒýÓâÔ½Ô¼15ÒÚÃÀÔª£¬¶ÔӦͬ±ÈÔö³¤Ô¼45%¡£

CEO Matt MurphyÔڲƱ¨ÉêÃ÷ÖаµÊ¾£º¡°ÎÒÃÇÔÚ¿´µ½Ò쳣ǿ¾¢µÄAIÓйض©µ¥£¬Òò¶øÎÒÃÇÔÚ´ó·ùÉϵ÷Marvell 2027²ÆÄêºÍ2028²ÆÄêµÄÓªÊÕÔ¤ÆÚ£¬Ïà±ÈÉϼ¾¶ÈÌṩµÄÖ¸ÒýÓÐÏÔÖøÌáÉý¡£

Êý¾ÝÖÐÐÄ£ºÕ¼×ÜÓªÊÕ76%£¬ÔöËÙ»¹ÔÚ¼Ó¿ì

Q1Êý¾ÝÖÐÐÄÓªÊÕ18.3ÒÚÃÀÔª£¬Í¬±ÈÔö³¤27%£¬»·±ÈÔö³¤11%£¬Õ¼×ÜÓªÊÕ76%¡£

Marvell¶ÔÕâ¿éÒµÎñµÄÔöËÙÔ¤²âÊÇ£º

FY2026£º+46%£¨ÒÑʵÏÖ£©FY2027£ºÔ¼+50%FY2028£ºÔ¼+55%

Murphy°µÊ¾£º

Êý¾ÝÖÐÐÄÒµÎñÔÚ×Å»ð£¬ÎÒÃÇÔ¤¼Æ½ñÄêºÍÃ÷ÄêµÄÊÕÈëÔöËÙ¶¼Ôڼӿ죬²¢ÇÒÊÇ´ÓÒ»¸öÒѾ­ºÜ¸ßµÄ»ùÊýÆô³Ì¡£»¥ÁªÒµÎñ£ºÔöËÙ´Ó30%¡ú50%¡ú70%£¬CEO˵¡°»¹ÓÐÏòÉÏÆ«µÄ¿Õ¼ä¡±

AIÊý¾ÝÖÐÐÄ»¥Áª£¨Interconnect£©ÒµÎñÊÇMarvellÊý¾ÝÖÐÐÄÒµÎñÖÐÌåÁ¿×î´óµÄ²¿ÃÅ£¬¸²¸Ç¹âѧ»¥Áª¡¢DCIÄ£¿é¡¢ÓйعâµÈ²úÆ·Ïß¡£

Õâ¸öÒµÎñµÄÄê¶ÈÔöËÙÔ¤ÆÚ£¬ÔÚ´ÓÇ°¼¸¸ö¼¾¶ÈÀﱻ½ÐøÉϵ÷£ºÈ¥Äê9ÔÂÇ°ºóԼΪ30%£¬Ö®ºóÉϵ÷ÖÁ50%£¬Èç½ñÔÙ¶ÈÉϵ÷ÖÁ³¬¹ý70%¡£

MurphyÔÚ±»·ÖÎöʦ׷ÎÊʱֱ½Ó˵£º

ÎÒÒÔΪÕâÀï´æÔÚ´óÁ¿ÏòÉÏÆ«µÄ¿ÉÄÜÐÔ¡£k8¿­·¢ÌìÉúÓ®×洫ͳDSPÒµÎñÃ÷Ä꽫Óдó·ùÔ¾Éý£¬1.6T²úÆ·ÏßÊǸü¸ß¼ÛÖµµÄÄÚÈÝ£¬DCIÔڼӿ죬»¹ÓÐretimer¡¢AECÕâЩÐÂÒµÎñ£¬ÒÔ¼°¹æÄ£»¯ÉÏÐйâѧ£¨scale-up optics£©¡­¡­ÕâÊÇÎÒÃÇÒ»¸öÖØ´óÔö³¤ÖÜÆÚµÄÆðÍ·¡£

Ϊʲô»¥ÁªÒµÎñºöÈ»±äµÃÕâôÖØÒª£¿Murphy¸ø³öÁËÇ峺µÄÂß¼­£º

ÔçÆÚÌìÉúʽAIÖØÒª½â¾öËãÁ¦ºÍÄÚ´æÆ¿¾±£¬ÍøÂ绥ÁªÊÇ´ÎÒªÎÊÌâ¡£µ«Ëæ×ÅÍÆÀíÄ£ÐÍ¡¢»ìºÏר¼ÒÄ£ÐÍ£¨MoE£©µÈ¸ü¸´ÔӼܹ¹µÄ²¿Êð£¬Êý¾ÝÔÚAI¼¯ÈºÄÚ²¿µÄ´«ÊäÁ¿¼±¾çÔö³¤£¬ÍøÂ绥ÁªµÄÖØÒªÐÔ´ó·ùÌáÉý¡£

¼¸¸ö¹Ø¼üÊý×Ö£º

TIAºÍÇý¶¯Ð¾Æ¬£ºÔ¤¼Æ½«À´¼¸¸ö¼¾¶È¼¾¶ÅתÊÕÍ»ÆÆÄ껯10ÒÚÃÀÔª¹æÄ£DCIÄ£¿éÒµÎñ£ºÒÑÏòÈ«ÃÀÎå´ó³¬´ó¹æÄ£ÔƳ§É̹©»õ£¬Ô¤¼ÆFY2028Ä껯ӪÊÕÍ»ÆÆ10ÒÚÃÀÔª£¬Ô¼ÎªFY2026£¨Ô¼5ÒÚÃÀÔª£©µÄÁ½±¶Scale-up optics£¨NPO/CPO¹âѧ»¥Áª£©£º´ËÇ°Ô¤ÆÚÔ¼1.5ÒÚÃÀÔª£¬´Ë¿ÌÉϵ÷£¬Ô¤¼ÆFY2028³¬¹ý3ÒÚÃÀÔª¶¨ÔìоƬ£¨XPU£©£ºÃ÷Äê·­±¶£¬2029ÄêÖ¸±ê³¬100ÒÚÃÀÔª

MarvellµÄ×Ô½ç˵оƬҵÎñ£¨Custom/XPU£©ÊÇÁíÒ»ÌõÖØÒªÔö³¤Ïߣ¬Ò²ÊÇÊг¡×î¹Ø×¢µÄ·½ÏòÖ®Ò»¡£

µ±Ç°½øÕ¹£º

FY2027¶¨ÔìоƬӪÊÕ£ºÍ¬±ÈÔö³¤³¬20%FY2028¶¨ÔìоƬӪÊÕ£ºÔ¤¼Æͬ±È·­±¶£¬¸ßÓÚÉϼ¾¶ÈÔ¤ÆÚFY2029Ö¸±ê£º³¬¹ý100ÒÚÃÀÔª£¨´ËÇ°Ö¸±êΪԼ80ÒÚÃÀÔª£©

·ÖÎöʦVivek Arya£¨ÃÀÒø֤ȯ£©Ôڵ绰»áÉÏ×·ÎÊ£ºÕâÊÇ·ñÒâζ×ÅFY2028¶¨ÔìоƬӪÊÕÔÚ40ÒÚÃÀÔªÒÔÉÏ£¬¶øºóµ½FY2029ÌøÉýÖÁ100ÒÚÃÀÔª£¬Ò²¾ÍÊǵ¥ÄêÔöÁ¿³¬50ÖÁ60ÒÚÃÀÔª£¿

MurphyµÄ»Ø¸²ÊÇ£ºÊǵÄ£¬ÄãÌý¶ÔÁË¡£

FY2028¶¨ÔìоƬÔö³¤µÄÈý´óÇý¶¯£º

ÏÖÓÐXPUÆì½¢ÏîÄ¿³ÖÐøÔö³¤³¬¹ý10¸öXPU´ÓÊôÏîÄ¿£¨NIC¡¢CXLµÈ£©½øÈë¸ü¸ßÁ¿²ú½×¶Î£¬ÐèÒª³ÖÐø³¬Ô¤ÆÚÒ»¸öеÄÍ·²¿XPUÏîÄ¿½øÈëÁ¿²ú¡ª¡ªMurphy³Æ¡°ÏîÄ¿ËùÓнøչ˳Àû£¬ÕûÄê³ö²ú´òËãÒÑÂäʵ¡±

Murphy»¹Ð¹Â©£¬ÐÂÓ®µÃµÄÉè¼Æ¶©µ¥¹ÌȻͨ³£±ØÒªÔ¼Á½Ä꿪·¢ÖÜÆÚÄÜÁ¦¹±Ï×ÓªÊÕ£¬µ«ÕâЩÏîÖ÷ÕÅÒâ˼ÔÚÓÚΪ¸ü³¤Ô¶µÄÔö³¤Ìṩ±£ÏÕ£¬Ëû³Æ֮Ϊ¡°±£ÏÕµ¥¡±¡£

ÓëӢΰ´ïÀ©´óºÏ×÷£¬Èý·çÑÅÏòÂäµØ

±¾¼¾¶È£¬Marvell°ä·¢ÓëӢΰ´ïÀ©´óÕ½ÊõºÏ×÷£¬MurphyÔڵ绰»áÉϾßÌå½éÉÜÁËÈý¸öÖ÷Ìâ·½Ïò£º

Ò»¡¢¹âѧ»¥½áºÏ×÷£ºMarvell³Ö¾ÃΪӢΰ´ïÌṩDSP¡¢TIAºÍÇý¶¯Æ÷£¬Ë«·½´Ë¿Ì½øÒ»²½ºÏ×÷¿ª·¢¹è¹â×Ó¼¼Êõ£¬Õâ±»ÒÔΪÊÇ×ÝÏòÀ©´ó£¨scale-up£©ÍøÂçµÄ¹Ø¼üʹÄܼ¼Êõ¡£

¶þ¡¢NVLink Fusion¼¯³É£ºÔÊÐíMarvell¹¹½¨ÄÜÓëӢΰ´ï»ù´¡ÉèÊ©ÎÞ·ì¶Ô½ÓµÄ×Ô½ç˵оƬºÍÍøÂç°ëµ¼Ìå¡£Murphy°µÊ¾£¬ÕâΪ³¬´ó¹æÄ£ÔƳ§ÉÌÌṩÁ˸ü´óµÄ½Ã½ÝÐÔ£¬Äܹ»ÔÚ×Ô½ç˵оƬºÍӢΰ´ïоƬ֮¼ä×ÔÓÉ»ì´î£¬"Marvell¹ÖÒìµØÌṩÁËÕâÁ½Öּܹ¹Ö®¼äµÄÇÅÁº"£¬²¢½«ÎªË«·½´´ÔìеÄÊг¡»úÓö¡£

Èý¡¢AI-RAN£ºMarvell½«¼ÓÇ¿ÆäOcteon»ùÕ¾´¦ÖÃÆ÷£¬Ê¹ÆäÄÜÓëӢΰ´ï GPUÖ±½ÓЭͬ¹¤×÷£¬ÔÚͳһӲ¼þƽ̨ÉÏͬʱÔËÐÐ5G/6GÎÞÏß¹¤×÷¸ºÔغÍAIÀûÓá£

¹©¸øÁ´£ºÌáÇ°Ëø¶¨²úÄÜ£¬½ñÄêÔ¤¸¶¿îÔ¼10ÒÚÃÀÔª

Ãæ¶Ô³ÖÐøÅÊÉýµÄÐèÒª£¬¹©¸øÁ´ÖÎÀí³ÉΪ¹Ø¼ü±äÁ¿¡£

CFO Willem MeintjesÔڵ绰»áÉÏй©£¬¹«Ë¾´òËãÔÚ2027²ÆÄê½øÐÐÔ¼10ÒÚÃÀÔªµÄ¹©¸øÉÌÔ¤¸¶¿î£¬Ê×Åú¸¶¿î´ÓQ2ÆðÍ·£¬ÕâЩԤ¸¶¿î½«µÖ¿Û½«À´µÄ×ÊÁϲɹº¡£

COO Chris KoopmansÔڻظ²·ÖÎöʦÌáÎÊʱڹÊÏçËMarvellµÄ¹©¸øÁ´Õ½Êõ£º

AIÓйصÄËùÓдÓÍ·ÖÁβ¶¼Êǹ©¸øÊÜÏ޵ġ£k8¿­·¢ÌìÉúÓ®¼Ò·½Ê½ÊÇÓëÉÙÊýÖ÷Ì⹩¸øÉ̳ÉÁ¢¼«¶ÈçÇÃܵĹØϵ£¬¸øËûÃÇÌṩÎåÄêÐèÒªÔ¤²â£¬Ã¿´Î¶¼¶ÒÏÖ³Ðŵ£¬ÓÃÏÖ³¢ÊÔ¶¯ºÍÔ¤¸¶¿îÀ´Ö§³Ök8¿­·¢ÌìÉúÓ®¼ÒÔ¤²â¡£

²ÆÕþ²ãÃ棬Q1¾­ÓªÐÔÏÖ½ðÁ÷´ïµ½´´¼Í¼µÄ6.39ÒÚÃÀÔª¡£¹«Ë¾µ±¼¾»Ø¹º¹ÉƱ2ÒÚÃÀÔª£¬²¢Ö§¸¶¹ÉÏ¢5400ÍòÃÀÔª¡£½ØÖÁQ1Ä©£¬×ÜÕ®Îñ49.6ÒÚÃÀÔª£¬¾»Õ®Îñ/EBITDAΪ0.32±¶¡£

2 ¿ÆѧµÄ¿ÒÇУ¬·´³Éα¿Æѧ³ËÐé¶øÈëµÄÍ»ÆÆ¿Ú

k8¿­·¢ÌìÉúÓ®¼Ò

ÃÀ¹úÒéԱߥ¶ÞÌØÀÊÆÕ¶Ô»ªÇ¿Ó²