to make the most of generative AI - which can engage in human-like conversation and craft everything from jokes to poetry.
That has in turn boosted demand for the chips that power AI technology, benefiting companies such as Marvell. Marvell's AI revenue will at least double again next year and "and continue to grow rapidly in the coming years", Murphy said, with second-quarter cloud revenue expected to grow 10% sequentially.
The California-based firm also forecast second-quarter revenue of $1.33 billion, above analysts' estimates of $1.31 billion, according to Refinitiv data. Excluding items, it reported revenue of $1.32 billion for the quarter ended April 29, beating expectations of $1.30 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves after hours: Gap, Marvell Technology, RH, Ulta and moreThese are the stocks posting the largest moves in after-hour trading.
Source: CNBC - 🏆 12. / 72 Read more »
China's Micron ban 'not based in fact,' White House saysThe Chinese government's recent ban on U.S. chipmaker Micron Technology over security concerns is 'not based in fact,' the White House said on Tuesday.
Source: Reuters - 🏆 2. / 97 Read more »
Adobe Adding Generative AI Technology to PhotoshopAdobe is introducing “Generative Fill,” an artificial intelligence image generator, to its signature editing software.
Source: NBCDFW - 🏆 288. / 63 Read more »
How the technology behind ChatGPT could make mind-reading a reality | CNN BusinessOn a recent Sunday morning, I found myself in a pair of ill-fitting scrubs, lying flat on my back in the claustrophobic confines of an fMRI machine at a research facility in Austin, Texas. “The things I do for television,” I thought.
Source: cnni - 🏆 326. / 59 Read more »
Cleveland expands ShotSpotter system, despite criticism of gunfire detection technologyThe technology automatically detects gunfire and alerts police.
Source: cleveland19news - 🏆 70. / 68 Read more »
The rise of AI: Experts, lawmakers issue warnings as technology rapidly evolvesCompetition between companies that develop artificial intelligence is accelerating but some are attempting to clamp the brakes on the burdgeoning industry to avoid unintended consequences.
Source: cbsaustin - 🏆 595. / 51 Read more »