Nvidia revenue hits $81.6B; Marvell reaches $2.4B as AI demand surges

Nvidia and Marvell Technology have both experienced significant revenue growth over the past two years, though their scale and trajectory reveal distinct roles in the AI semiconductor market. Nvidia, which provides advanced graphics, computational, and networking solutions across gaming, visualization, and automotive sectors, reported quarterly revenue of $81.6 billion（約13兆円） for the period ended April 2026, up from $30.0 billion（約4.8兆円） in Q3 2024. The company generated a 66% EBIT margin for its most recent quarter and established a partnership with the Japanese government to launch the world's first national infrastructure dedicated to AI. It also introduced the Vera CPU architecture during the period.

Marvell Technology, a provider of data infrastructure semiconductor solutions spanning the data center core to the network edge, reported quarterly revenue of $2.4 billion（約3800億円） for the period ended May 2026, compared with $1.3 billion（約2100億円） in Q3 2024. The company reported a 1% net income margin for the quarter ended May 2, 2026, and launched the Teralynx T100 switch and acquired Polariton Technologies during the period.

Both companies have demonstrated quarter-over-quarter sales growth—a rarer and more significant achievement than typical year-over-year expansion. This metric reflects the extraordinary pace at which the AI industry has transformed demand for their offerings. Nvidia's much larger revenue base and accelerating growth illustrate its dominance in the AI semiconductor chip market and the central role its products play in the AI ecosystem. Marvell's steady, consistent growth reflects its position as a supplier of essential supporting infrastructure components—the "picks and shovels" of the AI era—whose products are finding increasing customer adoption even though they are not as foundational to AI systems as Nvidia's offerings. In June, Marvell's stock reached a 52-week high of $329.88 after being added to the S&P 500 index, signaling investor confidence in the company's sustained relevance within the AI supply chain.

Both Marvell Technology and Nvidia have benefited enormously from the rise of artificial intelligence, posting consecutive quarter-over-quarter sales growth—a more impressive metric than the typical year-over-year expansion, as it signals the exceptional momentum AI demand has created. However, their market positions differ sharply. Nvidia's revenue of $81.6 billion（約13兆円） in Q2 2026 dwarfs Marvell's $2.4 billion（約3800億円）, reflecting Nvidia's dominance in core AI semiconductors and its central role in the ecosystem. Nvidia's partnership with the Japanese government to build a dedicated national AI infrastructure exemplifies the company's pivotal position: customers are adopting its offerings at scale and speed. Marvell's much smaller but steadily growing revenue reflects a different niche—it supplies supporting infrastructure components that are in demand but not as foundational as Nvidia's offerings. Marvell's addition to the S&P 500 in June and its 52-week high of $329.88 signal investor confidence in the company's sustainable role in the AI supply chain, even as Nvidia's acceleration underscores the hierarchy of value in semiconductor-driven AI infrastructure.

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