AGIX 指数 诞生于我们对"如何捕获 AGI 时代 beta 和 alphas"这一问题的深度思考。毫无疑问，AGI 代表了未来 20 年最重要的科技范式转换，会像互联网那样重塑了人类社会的运行方式，我们希望 AGIX 成为衡量这一新科技范式的重要指标，如同 Nasdaq100 之于互联网时代。 「AGIX PM Notes」 是我们对 AGI 进程的思考记录，希望通过学习 Warren Buffett、Ray Dalio、 Howard Marks 等传奇投资者们的分享精神，与所有 AGIX builders 一同见证并参与这场史无前例的技 术革命。 | Ticker | 本周表现 | YTD | Return since 2024 | | --- | --- | --- | --- | | AGIX | -3.62% | 27.70% | 86.70% | | S&P 500 | -0.75% | 12.96% | 39.29% | | QQQ | -1.03% | 16.58% | 45.53% | | DowJones | -0.29% | 8.70% | 22.71% | | | 本周表现 | I ...

Marvell is a fabless developer of standard and semi-custom semiconductor products, such as complex system-on-chip architectures and custom application-specific integrated circuits (ASICs). The company's vast IP portfolio spans computing, optics, networking, storage, and security. A very important part of the company's business is its partnership with Amazon Web Services, which includes collaboration across multiple AWS products and the use of AWS cloud infrastructure. Marvell makes a broad range of data ...

Marvell Technology, Inc. (NASDAQ: MRVL ) is a high-growth semiconductor company that designs and supplies high-performance technology for data-intensive applications, such as artificial intelligence. The company also offers semiconductor solutions for carrier infrastructure, enterprise networks, industrials, automotive, and others.Dear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and r ...

Marvell Technology, Inc. (NASDAQ: MRVL ) is a high-growth semiconductor company that designs and supplies high-performance technology for data-intensive applications, such as artificial intelligence. The company also offers semiconductor solutions for carrier infrastructure, enterprise networks, industrials, automotive, and others.Dear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and r ...

Key Points Broadcom is the dominant player in the custom AI chip market with an impressive market share. Yet, a smaller chip designer has been quickly improving its customer base and revenue pipeline in this space. Marvell Technology is trading at an attractive valuation and looks like a better buy than its bigger peer. 10 stocks we like better than Marvell Technology › Broadcom (NASDAQ: AVGO) is turning out to be one of the biggest beneficiaries of the artificial intelligence (AI) chip boom after ...

Columbia Threadneedle Investments, an investment management company, released its “Columbia Seligman Global Technology Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The US equities strongly rebounded in the second quarter following a turbulent first quarter. The fund’s Institutional Class shares returned 19.52% in the quarter, compared to a 23.18% return for the MSCI World Information Technology Index-Net. In addition, you can check the fund’s top 5 holdings for it ...

CANADA - 2025/08/29: In this photo illustration, the Marvell Technology logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesMarvell Technology (NASDAQ:MRVL) has increased approximately 25% since our note on September 5th, where we presented a strong argument for the stock potentially doubling. (Marvell: MRVL Stock To $140) The surge has been driven by a few factors. Firstly, the company revealed ...

Marvell's CEO shared some bullish remarks in a recent investor conference.In today's video, I discuss recent updates impacting Marvell Technology (MRVL 4.59%). To learn more, check out the short video, consider subscribing, and click the special offer link below.*Stock prices used were the post-market prices of Sept. 24, 2025. The video was published on Sept. 24, 2025. ...

嗯 用户给了一份关于Marvell Technology的电话会议纪要分析任务 需要我以资深投行研究分析师的身份来解读 让我先仔细看看内容 这份材料是JP摩根关于Marvell Technology的研究报告 包含了电话会议的关键内容和财务数据 我需要从中提取核心信息 我看到文档1和13-14提供了最重要的电话会议内容 管理层对数据中心和AI业务的展望很乐观 预计2026年将实现广泛增长 特别是数据中心业务至少增长18-20% 与资本支出增长同步 有意思的是公司特别澄清了与AWS的合作关系依然牢固 正在参与Trainium 3和2nm技术的Trainium 4项目 这反驳了市场对AWS市场份额流失的担忧 AI定制ASIC业务预计至少有18-20%的增长 光学网络业务表现突出 预计增长将超过定制业务 DSP业务从6亿美元增长到30亿美元 增长了5倍 交换机业务也有强劲势头 可能从3亿美元增长到4.5-5亿美元 财务数据方面 文档7和19显示公司2026年预期收入81.79亿美元 调整后EPS 2.85美元 2027年预期收入94.82亿美元 EPS 3.60美元 公司还宣布了10亿美元的加速股票回购计划 总回购授权增加到50亿美元 估值方面 文档9和16显示目标价120美元 基于2027年3.60美元EPS的33倍市盈率 与AI/网络同行一致 风险部分在文档17 包括数据中心建设放缓 竞争压力 HDD OEM采用双源策略等 好 我现在对内容有了全面了解 可以开始组织回答了 我会按照用户要求的格式 用markdown 中文 不出现第一人称 每个关键点后标注文档序号 我会把内容分成几个主要部分：公司业务展望、财务表现、估值与评级、风险因素 确保覆盖所有重要信息 特别是那些可能被忽略的细节 比如光学网络业务的具体增长数据和交换机业务的扩张计划 让我开始组织回答 Marvell Technology电话会议纪要分析 涉及的行业和公司 * 行业涉及半导体 数据中心 人工智能 ASIC 光学网络[1] * 公司为Marvell Technology Inc (MRVL)[1] 核心观点和论据 业务展望与增长动力 * 管理层预期2026年AI 数据中心和周期性终端市场实现广泛增长 数据中心板块预计持续强劲增长(至少18-20%同比增长) 周期性业务(除消费和工业外)有望实现两位数百分比同比增长[1][13] * 数据中心多元化业务(占收入75%)表现强劲 定位良好 2026年增长至少与整体资本支出增长(18-20%同比增长)同步 预计2027年和2028年收入增长加速[1][14] * 与亚马逊的合作伙伴关系保持牢固 在多代产品获胜(即Trainium 3)和2nm技术(Trainium 4)的持续合作方面有清晰可见性 团队预计2026年AWS定制AI XPU ASIC业务将增长[1][14] * AI定制ASIC收入预计明年至少增长18-20% 团队预计AI定制ASIC业务的收入增长基线底线为18-20%[14] * 多代AI XPU和XPU附加获胜数量已增至20多个 而6月AI日时为18个[1][14] * 光学网络业务(团队预计2026年光学增长>其定制业务)继续表现异常出色 在纵向扩展网络中的覆盖范围不断扩大[1][14] * 其他/新兴数据中心业务板块定位良好 有望增长 交换业务势头尤其强劲 随着51.2T Tbp/sec产品上量 收入可能增至约4.5-5亿美元 较其基线收入预期增长3倍[1][14] 财务表现与资本回报 * 2026年预期收入81.79亿美元 调整后EPS 2.85美元 2027年预期收入94.82亿美元 调整后EPS 3.60美元[3][7] * 公司宣布10亿美元加速股票回购计划 并将总回购授权增加至50亿美元[1] * 交换业务已从收购Innovium后翻倍至3亿美元[14] * DSP业务现在代表30亿美元业务 自收购以来从6亿美元收入运行率增长5倍[14] * 纵向扩展网络应用业务现已成为1亿美元以上业务[14] * 存储业务已反弹 现每季度产生2亿美元 由数据中心HDD和SSD控制器需求驱动[14] 估值与投资评级 * 目标价120美元 基于2027年约3.60美元盈利能力的33倍市盈率[9][16] * 市盈率倍数与公司AI/网络同行一致[9][16] * 重申Overweight(OW)评级[1] * 尽管有积极发展 股票交易价格较AI同行有5倍折价[1] 其他重要内容 可能被忽略的细节 * 团队越来越有信心执行其数据中心增长战略 到2028年捕获数据中心TAM机会的20%[14] * 团队深度参与多个客户的2nm技术 包括亚马逊的Trainium 4和微软的Maia Gen 3[14] * 团队认为已获得75亿美元机会渠道的10%[14] * 用于数据中心互连(DCI)产品的800G ZR开始获得关注[14] * 除了在横向扩展网络(机架到机架连接)的既定领导地位外 团队正在将其有源电气电缆(AEC)解决方案组合扩展到纵向扩展网络应用(机架内连接) 现已成为1亿美元以上业务 其以太网重定时器业务目前为3000万美元[14] * 团队认为纵向扩展网络收入在短期内可以翻倍[14] 风险因素 * 数据中心建设逆转或显著放缓可能危及长期HDD收入增长[17] * 在下一代HDD读取通道技术中落后于竞争对手并追赶可能使市场份额面临风险[17] * HDD OEM采用双源策略也可能导致市场份额损失[17] * 大型电信提供商与5G相关的有线和无线通信支出疲软可能限制通信业务增长[17] * CAVM整合/性能或协同效应估计/时间表的向下修正可能损害管理层声誉并导致估计向下修正[17]

BREAKING: Bullish Rebound Pares Market's Weekly Losses Marvell Technology (MRVL) stock rose Thursday after the chipmaker's chief executive gave Wall Street analysts an upbeat assessment of the company's prospects. At an investor conference Wednesday, Chief Executive Matt Murphy provided reassuring guidance. He said the company's custom chip business should see no revenue gap next year, despite concerns about the status of its business with Amazon's (AMZN) AWS unit. Murphy also provided growth rates for Marv ...