Two AI infrastructure companies—Credo Technology and Marvell Technology—positioned as embedded suppliers to hyperscalers building data centers.

Credo Technology makes Active Electrical Cables (AECs) that connect GPUs inside AI data center clusters. The company has confirmed Microsoft, Amazon, and xAI as customers, with a fourth hyperscaler ramping toward the 10% revenue threshold heading into fiscal 2026.

Marvell Technology received a $2 billion investment from Nvidia on March 31, 2026, and was folded into Nvidia's NVLink Fusion ecosystem—a rack-scale platform that lets custom accelerator chips connect directly into Nvidia's proprietary interconnect fabric. Marvell's custom silicon pipeline includes 18 XPU and XPU-attach sockets, with more than 50 new pipeline opportunities representing an estimated $75 billion in lifetime revenue potential.

Both companies operate in infrastructure segments where demand is structural rather than cyclical, making them difficult to replace as the AI economy scales. Credo's CEO was granted a performance stock award with revenue milestones ranging from $2.5 billion to $7.5 billion and stock price hurdles of $244.70 to $489.40, vesting through 2031.