UBS Raises Marvell Target Price to $340 on Teralynx AI Networking Chip Breakthrough

According to UBS analyst Timothy Arcuri, the bank raised semiconductor company Marvell's target price from $230 to $340 in late May, maintaining a buy rating. Bank of America also set a $365 target, Stifel raised its target to $350, and B.Riley gave $345, citing Marvell's collaboration value with Nvidia.

UBS highlighted Marvell's Teralynx T100 as a key catalyst for valuation gains. Launched in early May, it is the first single-chip 102.4 Tbps Ethernet switching chip designed from scratch for the AI era, using TSMC's 3-nanometer process with power consumption below 1,000W—up to 25% more efficient than competitors. The chip supports up to 512-port Radix and multiple packaging options including co-packaged optics. UBS estimates global CXL (Compute Express Link) interconnection market potential at approximately $4.5 billion by 2027, expanding to $7–10 billion by 2030. Marvell CXL-related revenue is projected to grow from approximately $1 billion in 2027 to $2 billion in 2028, with major cloud hyperscalers already placing five XPU-attach projects including Google TPU custom chip orders.