Marvell Technology tumbled 19% 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.

Marvell Technology tops fourth-quarter earnings estimates but the stock tumbles as in-line guidance disappoints investors, Broadcom slumps ahead of the release of quarterly earnings, and MongoDB falls sharply on a weaker-than-expected fiscal-year outlook.

The chipmaker fell sharply early Thursday as its slight earnings outlook failed to impress investors looking for a boost to the AI trade.

"While unwelcome, volatility is common in semi stocks and does not always presage a fundamental shift," Bank of America said.

U.S. stock futures fall sharply as volatility surrounding tariffs policy continues, Marvell Technology shares sink on firm's weak outlook, and analysts are expecting revenue and profit growth from Costco's report after the bell.

Dow, S&P 500, and Nasdaq futures are falling in premarket trading Thursday as the stock market faces more turmoil from Trump tariffs ahead of the latest jobs data.

On the trade front, President Donald Trump exempted automakers that comply with existing free trade agreement and sources said the negotiations were ongoing. Wall Street's main indexes closed higher over 1% on Wednesday following Trump's announcement.

Investing.com - Shares in Marvell (NASDAQ:MRVL) slumped by more than 15% in premarket U.S. trading on Thursday after the chipmaker’s financial guidance and quarterly results failed to excite investors hoping for strong artificial intelligence-driven growth.

Marvell Technology forecast first-quarter revenue in line with Wall Street estimates on Wednesday, but its shares plunged 15 per cent in extended trading as it failed to excite investors who expected sharper artificial intelligence-driven growth.

Chipmaker Marvell Technology forecast first-quarter revenue above estimates on Wednesday, driven by robust demand for custom chips from businesses aiming to optimize AI workloads.The demand and resulting shortage of AI chips have driven up the prices of Nvidia's AI processors.

By Priyanka G and Max A. Cherney (Reuters) -Marvell Technology forecast first-quarter revenue in line with Wall Street estimates on Wednesday, but the chipmaker's shares plunged 15% in extended