BioLife Solutions holds special shareholder meeting on merger agreement vote

The fiscal year 2028 revenue forecast has been raised from $18 billion to approximately $20 billion. Revenue for fiscal year 2031 is now expected to reach between $70 billion and $90 billion, exceeding previous expectations. If targets are met, the deal signed with Google in August could generate up to $120 billion in revenue before fiscal year 2033. The full article provides detailed information and background. Reuters, October 6 – On Tuesday, Marvell Technology (MRVL.O) raised its fiscal 2028 revenue forecast to around $20 billion, surpassing Wall Street's expectations, thanks to growing demand for its custom data center chips and surging artificial intelligence (AI) spending. The company's shares rose about 7%, while competitor Broadcom (AVGO.O) saw its stock rise about 4% in early trading. Marvell had outlined a strategy focused on custom and cloud-optimized chips (specially designed for data centers) at its 2021 Investor Day. Since then, the company has become one of the main beneficiaries of the AI infrastructure boom. As tech firms develop proprietary AI processors to reduce reliance on Nvidia (NVDA.O) chips, Marvell’s custom chip business has become a primary growth driver. This year, Marvell's stock price has more than tripled. In August, Marvell disclosed an agreement with Alphabet's Google (GOOGL.O) which, if certain milestones are achieved, could generate up to $120 billion in sales by fiscal year 2033. That same month, the company raised its full-year revenue forecast from $16.5 billion to around $18 billion. On Tuesday, Marvell forecasted fiscal year 2031 revenue to be between $70 billion and $90 billion. According to Visible Alpha’s survey of four analysts, the midpoint of that range—$80 billion—exceeds Wall Street’s previous expectation of $46.85 billion. According to data compiled by the London Stock Exchange Group (LSEG), analysts had previously expected 2028 revenue to be $18.2 billion. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Because machine translation may contain errors or lack the required context, Reuters does not guarantee the accuracy of automated translated text and provides it solely for readers’ convenience. Reuters is not liable for any damage or loss arising from the use of automated translation.)

According to Zhitong Finance APP, storage chip concept stocks broadly declined on Tuesday. Seagate Technology (STX.US) dropped more than 7%, Western Digital (WDC.US) fell nearly 7%, SK Hynix (SKHY.US) was down 3%, and SanDisk (SNDK.US) lost over 2%. In terms of news, on October 6, Seagate was reported to be bidding against Toshiba for TDK’s hard disk drive head business, with the transaction value potentially reaching several billions of dollars. Increased uncertainty in the short term has arisen due to acquisition expenses, the effectiveness of integration, and changes in the competitive landscape of the supply chain. Following the announcement, both Seagate and Western Digital’s stock prices weakened.

According to Nikkei: Honda and Nissan have each partnered with American AI startups to develop next-generation vehicle software.