The hardest thing about making custom AI chips for large, demanding customers might be the expectations that go with it. Shares of Marvell Technology slid Thursday morning following its quarterly report.

Marvell Technology tumbled 16% and dragged down rival chipmakers on Thursday, after an in-line revenue forecast gave investors another reason to be jittery about spending on AI infrastructure, as a years-long rally shows signs of cooling.

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Broadcom (NASDAQ: AVGO) stock is losing ground today. The company's share price was down 5.8% as of 2:30 p.m. ET. Meanwhile, the S&P 500 index was down 2% at the same point in the day's trading, and the Nasdaq Composite index was down 2%.

Broadcom’s stock rose more than 15% in extended trading. The shares had earlier closed at $179.45 in regular New York trading, leaving them down 23% in 2025.

Marvell Technology Inc. shares tumbled the most in more than nine years after the company delivered a revenue forecast that fell short of the highest estimates, disappointing investors who were looking for a bigger payoff from the AI boom.

Marvell Technology's shares closed down 19.8%, marking their worst day in more than two decades and weighing on rival chipmakers' stocks on Thursday, after an in-line