Marvell Technology shares led Nasdaq 100 stocks higher in the wake of strong fiscal third-quarter results released after the bell Tuesday.

Shares of Marvell Technology (NASDAQ: MRVL) were surging today after the semiconductor maker posted better-than-expected results in its third-quarter earnings report, driven in part by strong AI demand and guidance.

Marvell shares are trading higher on Wednesday after the company reported better-than-expected 2025 fiscal-year third-quarter earnings and issued fourth-quarter guidance above estimates on Tuesday after the bell.

We recommend a 'Strong Buy' for Marvell Technology due to robust growth in custom silicon solutions and expanded partnership with Amazon AWS. See more on MRVL.

The data center end market's phenomenal growth of 98% year over year was driven by strong demand for the company's AI -related products. These mainly include its custom AI chips -- which are application-specific integrated circuits (ASICs) -- and interconnect products for AI-enabled data centers.

Marvell’s stock is up 21% in morning action Wednesday and on track for its best day since it rose 32% on May 26, 2023. Read: Marvell’s stock rises on strong AI demand, but thi

Marvell's strong Q3 results show growth fueled by AI focus and data center revenue, making it a compelling buy for AI exposure.

Shares were up 20% on Wednesday as Wall Street analysts welcomed the chip designer’s earnings for the October quarter.

Chief Executive Matt Murphy, for his part, said that “the exceptional performance” in the fiscal third quarter and the outlook for the current quarter are mostly thanks to Marvell’s AI silicon programs and “robust ongoing demand” from cloud customers.

Marvell posted fiscal Q3 earnings and revenue that topped estimates amid strong demand for its custom chips for artificial intelligence applications.