FILE PHOTO: Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
(Reuters) -Shares of Marvell Technology slumped 11.3% in premarket trading on Friday as the chipmaker's data center demand outlook fell short of lofty expectations after investors bet big on custom chips that power AI workloads for cloud giants such as Microsoft and Amazon.
Investor expectations for AI-focused chipmakers have been elevated, but recent results have shown signs of a cooling market. Nvidia's latest earnings beat forecasts, but its data center growth slowed and shares fell post-report. Peer Broadcom has yet to report.
