Marvell Technology (MRVL) is heading into its May 27 earnings report with gaining fresh Wall Street attention.
Last week, Stifel raised its price target on Marvell to a Street-high $210 from $140, predicting a beat and raise for the upcoming quarter. Investors welcome the news and shares climbed about 3% hitting the fresh all-time high at $198 following the note on Friday. Traders are increasingly betting that the artificial intelligence infrastructure boom is still in its early stages, even after Marvell’s stock has already surged triple digits year-to-date in 2026.
More News from Barchart
The company has quietly become one of the most important suppliers in the AI ecosystem. Marvell designs custom silicon, optical interconnects, and networking hardware that allow hyperscale data centers to move massive amounts of data without bottlenecks. Every major AI buildout needs faster connectivity, and that is exactly where Marvell fits in.
Stock Movement Shows Strong AI Optimism
Marvell stock’s performance tells the story clearly. Shares are up about 243% over the past year, dramatically outperforming the broader semiconductor sector and the S&P 500.
Technically, the momentum remains strong. Marvell’s 50-day simple moving average sits near $133, while the 200-day moving average rests around $101. That gap reflects the aggressive buying pressure that has followed the company throughout 2026.
Two major developments helped fuel that rally. Recently, Nvidia (NVDA) invested $2 billion into Marvell through convertible preferred stock and expanded its partnership with the company to integrate Marvell’s custom XPUs and optical connectivity products into the NVLink Fusion ecosystem. Marvell also acquired Celestial AI and XConn, strengthening its position in AI scale-up networking and optical infrastructure.
When Nvidia backs a company with a multibillion-dollar investment, Wall Street pays attention.
www.barchart.com
Valuation Looks Expensive, but Growth Is Backing It Up
That performance comes with some premium. Marvell stock trades at a forward price-to-earnings ratio above 43x and an enterprise-value-to-sales multiple near 20.2x.
For comparison, the sector median EV/sales ratio is around 3.6x. That is an enormous premium, and it highlights how much future AI growth investors are already pricing into the stock.
Still, Marvell’s growth metrics help explain the valuation. Revenue expanded 42% year-over-year, far above the semiconductor sector median of roughly 11%. The company also posted a net income margin near 33%, compared with a sector median closer to 6%.
Investors are clearly willing to pay a premium for a company tied directly to AI infrastructure spending. If Marvell continues growing revenue above 30% annually, today’s valuation may eventually look justified. But if AI spending slows, the stock could face meaningful pressure given how much optimism is already built into the shares.
Latest Quarterly Results Highlight Data Center Strength
Marvell’s latest quarterly results reinforced the bullish narrative. The company reported fiscal fourth-quarter 2026 revenue of $2.2 billion on March 5, up 22% from the prior year and slightly ahead of analyst expectations.
The data center business remained the primary growth engine, generating $1.65 billion in revenue during the quarter. That accounted for roughly 74% of total company sales.
Management also highlighted strong cash generation. Cash from operations totaled $374 million during the quarter, while cash and equivalents stood at $2.64 billion at quarter end.
Guidance Suggests More AI Expansion Ahead
Looking forward, management guided first-quarter fiscal 2027 revenue to $2.4 billion, plus or minus 5%, alongside EPS between $0.74 and $0.84.
For the full fiscal year, Marvell expects revenue growth above 30%, putting annual sales close to $11 billion. The company also raised its fiscal 2028 revenue target to approximately $15 billion, signaling confidence that AI networking demand remains strong.
Wall Street analysts are modeling full-year revenue near those levels, with EPS expectations above $3 for fiscal 2027.
That outlook suggests hyperscaler AI spending is still accelerating rather than slowing down.
Analyst Opinions Remain Overwhelmingly Bullish
Wall Street sentiment on Marvell remains highly positive. According to Barchart data, the stock carries a “Strong Buy” consensus rating based on 36 analysts in coverage.
However, the average analyst price target sits around $150, implying downside risk of around 28% from current levels.
Separately, Stifel analyst Tore Svanberg recently raised his target to $210 from $140 and said he expects Marvell to deliver an earnings beat on May 27. He also increased his fiscal 2027 data center revenue growth forecast to more than 40%, while projecting interconnect revenue growth above 50%.
Likewise, Citi analyst Atif Malik lifted his target to $215, citing strong Trainium-related demand. Bank of America increased its target to $200 after raising its AI networking market opportunity forecast. RBC Capital Markets also moved to $200, highlighting optical connectivity momentum, while Wells Fargo raised its target to $195 on expectations for further AWS Trainium expansion.
Most bullish calls share the same core thesis. Marvell’s custom silicon pipeline is scaling faster than expected, and the Nvidia partnership gives the company added credibility with institutional investors.
www.barchart.com
On the date of publication, Nauman Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
Ethereum [ETH] has been trading around the $2,000 range lately – A level that it has stayed above since May 2025. However, the price charts reveal an interesting phenomenon when the volatility of the altcoin is overlaid.
In fact, the drop in ETH volatility to a multi-year low signals a potential end to a long-term accumulation trend.
A new low on the VI
According to Amberdata, the Ethereum volatility index dropped below 50 for the first time since early 2024. At press time, it had a reading of 48, slightly above the January 2024 reading of 45.
After such a low reading in 2024, the price of Ethereum rallied from $2,230 to $4,170 in just two and a half months. This move was equivalent to a 170% rally, aligning with volatility that expanded to the 73-mark.
The reaction confirmed that low volatility precedes high volatility, which in turn drives prices. Periods of low volatility usually mean accumulation may be ongoing.
Source: Amberdata
Like Ethereum, Bitcoin has been seeing low volatility too. Interestingly, its value has been even lower than ETH’s volatility value. According to Glassnode analyst Chris Beamish, BTC DVOL was back near 35, in line with last year’s lows.
This synchronized reading hinted at a looming price breakout for the two largest-capped cryptos.
Is ETH price accumulation over now?
Other indicators confirmed the low volatility too. For instance, the lower Bollinger Band (BB) on the weekly chart was matching the lowest volatility levels between 2024 and 2025.
Additionally, the Historical Volatility indicator, smoothed by a 10-week average, matched the 2024 lows. Its reading was 33.19 at press time.
Historically, this alludes to a potential rebound to the upside. However, for a market structure shift, ETH’s price must close above the middle BB at around $2,200.
Using previous occurrences where volatility rebounded, Ethereum might rally back above $4,000. This prediction can be supported by the fact that prices have been ranging above $2,000 for the better part of this year.
Source: ETH/USD on TradingView
However, some big players believe Ethereum has succeeded as a network but failed as money. For instance, the co-founder of Bankless, David Hoffman, sold all his ETH holdings. This, despite building his career, community, and business on Ethereum.
The altcoin is also facing short-term competition from AI narrative tokens. ETH is still down 30% on a year-to-date (YTD) basis while ETH/BTC is at a new low. Some of its revenue is also shifting to chains like Solana [SOL] and Hyperliquid [HYPE].
Therefore, this time could be different, and the low volatility might not result in similar successes as before. Hence, traders need to observe how the price reacts around key levels like $2,200.
Final Summary
Ethereum’s volatility index dropped below 50 – A level last seen in early 2024.
Ethereum has been ranging around $2,000, aligning with low volatility readings which usually signal accumulation.
The U.S. Commodity Futures Trading Commission wants to tear up the remnants of an old dispute with crypto exchange Gemini, with the agency insisting that its own staff’s assertions about Gemini making misleading statements weren’t handled properly.
The CFTC filed a request alongside Gemini in federal court to negate a settlement secured at the start of last year, with the current agency essentially disputing the conclusions of the previous agency. After a review of the case, the CFTC “concluded the complaint should not have been filed — and would not have been under current enforcement standards,” it said in a Wednesday statement.
In January of 2025, Gemini agreed to resolve an enforcement action with a $5 million fine and other requirements, settling a matter that began in 2017. In meetings with the CFTC back then, its staff had determined that Gemini allegedly made false statements about the relative difficulty of manipulating bitcoin futures contracts and the regulator pursued an enforcement action in 2022.
If the U.S. District Court for the Southern District of New York grants the request to cancel the settlement and toss the case, the remainder of Gemini’s requirements under the agreement will be nullified — including its injunction preventing the company from making false or misleading statements to the commission in the future.
The CFTC has dramatically reversed its previous relationship with the crypto industry since the arrival of the administration of President Donald Trump just days after the Gemini settlement, and the subsequent appointment of CFTC Chairman Mike Selig, who has embraced digital assets as one of his top policy goals.
Trump has also sought to champion the industry, including specifically welcoming Gemini’s founders, the Winklevoss brothers, to White House events.
The president’s previous nominee to run the CFTC, former Commissioner Brian Quintenz, said last year in posts on X (formerly Twitter) that the Winklevoss brothers had asked him to review the settlement and suggested they were unhappy that he refused to commit to anything further than a review of the case. Trump withdrew his nomination just under three weeks later.
The president’s pro-crypto agenda was on display Wednesday in a posting on his social media platform, Truth Social, where he said, “The new Frontier of Finance is being Built in America, and ‘TRUMP’ will NEVER let Crypto down!”
Ethereum [ETH] attracted renewed speculative attention after a trader expanded his 25x leveraged ETH long position to 6,325 ETH, valued near $13 million.
Despite facing unrealized losses of more than $33 million, the trader deposited an additional $287,913 USDC into HyperLiquid. This aggressive positioning highlighted growing conviction among derivatives traders, even as ETH continued to struggle below key resistance levels.
However, the move also highlighted rising liquidation risk because extremely leveraged positions remained vulnerable during sharp volatility swings. Market participants increasingly monitored whether whale traders still expected a broader recovery structure from current levels.
Therefore, the expanding position suggested confidence remained active despite Ethereum’s prolonged consolidation phase and weakening higher timeframe structure.
Bulls still dominate Binance positioning
Binance top trader data continued reflecting strong bullish sentiment across perpetual markets despite Ethereum’s recent weakness.
At press time, long accounts represented 78.38% of total trader positioning, while short accounts remained near 21.62%, pushing the Long/Short Ratio toward 3.63. The imbalance showed leveraged traders still heavily favored upside continuation instead of preparing for a broader correction.
However, crowded long positioning historically increased downside liquidation risks whenever volatility intensified around major resistance levels.
In addition, persistent bullish positioning suggested institutional and high-frequency participants still anticipated recovery attempts toward higher resistance zones despite deteriorating short-term price structure.
Source: CoinGlass
Ethereum struggles below major resistance
Ethereum continued consolidating between the key $2,036 support and the $2,419 resistance zone throughout recent sessions. Price repeatedly defended the lower demand region while failing to establish stronger continuation above nearby recovery levels.
The daily chart reflected weakening structure after ETH rejected higher prices earlier this month near the upper resistance boundary. However, sellers still lacked enough strength to force a decisive breakdown below support.
This range-bound structure increasingly reflected uncertainty across both spot and derivatives markets.
Traders closely monitored whether ETH could reclaim the $2,419 resistance because such recovery would likely improve broader market sentiment. Otherwise, continued rejection below resistance could increase downside pressure toward the lower consolidation boundary again.
Directional Movement Index readings continued reflecting bearish control despite Ethereum’s ongoing consolidation near support. At the time of writing, ADX climbed near 30 while the -DI indicator held around 25.58, remaining significantly above the +DI reading near 9.98.
The structure suggested bearish trend strength still dominated current price action even though ETH stabilized above critical support.
Source: TradingView
Ethereum Funding Rates stay strongly positive
At press time, Funding Rates remained firmly positive near 0.0162 as derivatives traders continued favoring long positioning across perpetual markets. The metric climbed more than 55%, reflecting growing willingness among traders to pay premiums for maintaining bullish exposure.
Such conditions usually appeared when speculative confidence strengthened despite uncertain price structure.
However, persistently elevated Funding Rates also increased the probability of volatility-driven liquidations whenever price momentum weakened sharply.
Market participants increasingly evaluated whether bullish derivatives positioning aligned with Ethereum’s relatively weak technical structure near resistance.
Source: CryptoQuant
To conclude, Ethereum continued attracting aggressive leveraged confidence despite unstable market structure and persistent bearish trend signals.
Binance traders still heavily favored long exposure, while Funding Rates reinforced speculative optimism across derivatives markets. However, ETH remained trapped below the critical $2,419 resistance while DMI readings still favored sellers.
If buyers reclaimed higher resistance levels, Ethereum would likely strengthen recovery conditions further. Otherwise, excessive leverage could increase the probability of another liquidation-driven correction toward lower support zones.
Final Summary
Ethereum traders continued increasing long exposure despite weakening higher timeframe trend structure.
ETH defended key support, though bearish DMI pressure still dominated broader market direction.
Hours before a scheduled meeting on a Nottingham, New Hampshire, data center proposal — which had to be moved to a larger venue because of growing backlash — the developer abruptly withdrew the plans.
“There was a lot of opposition, so I’m not surprised,” a coordinator for Nottingham’s Planning Department, Tracey Stickney, told Business Insider on Tuesday, adding that it was “nice” to see people come together and care about their local community.
She said she still expected residents of the town, with a population of about 5,300, would show up to the meeting to voice their concerns.
The proposed project, backed by local developer Thomas Moulton through Nottingham Business Park LLC, had sparked mounting backlash from residents worried about environmental impacts, noise, and the transformation of their rural town.
A Change.org petition opposing the project drew more than 25,000 signatures and support from residents who feared the development would fundamentally alter Nottingham’s character.
The fight in Nottingham is part of a growing wave of resistance to data center development across the US, as communities from Virginia to Georgia to Texas push back on projects they say strain water supplies, consume enormous amounts of electricity, generate constant noise, and transform rural landscapes into industrial corridors.
As Big Tech companies race to build the infrastructure needed to power AI and cloud computing, residents and local officials have increasingly demanded tighter regulations and environmental scrutiny — particularly in smaller towns unaccustomed to hosting massive digital infrastructure projects.
Brad Weit, a Nottingham-area resident who started the petition, said locals felt blindsided by the proposal and alarmed by the possibility of large-scale industrial infrastructure being built in a rural community known more for forests and lakes than server farms.
“I grew up hunting and fishing in these woods. I grew up on the lakes and the rivers. I value the beauty of New Hampshire, and I would like to keep it, especially in a small town like Nottingham, where it’s not very industrial at all,” Weit told Business Insider.
The uproar, he said, reflected broader anxiety about rapid data center expansion reaching small towns that lack the resources — and, in some cases, the water supply — to absorb projects of that scale.
“New Hampshire, and specifically this region near the seacoast, has already been in a severe drought for years,” Weit said. “It completely baffled me that of all places I’ve been reading about these, seeing them pop up, that Nottingham was the next one.”
Protesters against the Box Elder County data center in Utah, backed by investor Kevin O’Leary.
Natalie Behring/Getty Images
In a statement, Moulton said the company was withdrawing its conceptual consultation request “without prejudice” to allow time for “additional research” and to determine “whether this is an appropriate use for the site.”
Moulton said in an interview that the project became consumed by “misconception and misinformation,” including online claims that the company planned to build a “40-acre building.” The proposed building, he said, would have been about 4 acres.
“I think the biggest thing is the environmental concerns,” Moulton said, adding that residents raised fears about noise and water pollution. “If we assemble truthful and accurate information, and present it fairly and transparently, then let everybody make their mind up — if they don’t want it, they don’t want it.”
Moulton argued the project could have brought a major tax windfall to Nottingham, which has a limited commercial tax base.
“It’s kind of like hitting a lottery ticket when it comes to tax revenue,” he said.
By Tuesday afternoon, he had decided it was better to temporarily retreat than fight the backlash, which he said included threats against his life.
Moulton emphasized that he lives in the community and would personally have to answer to neighbors affected by the project.
“I’m not some guy from New York trying to do a housing development and do it irresponsibly,” he said. “I live in the community, I want to do the right thing.”
The growth of data centers
For residents like Weit, those assurances weren’t enough. Weit said locals worried that once a project of that scale entered the town, Nottingham could lose control over future development.
Moulton said his goal was to think proactively about Nottingham’s future while balancing residents’ concerns.
“Someone’s going to do this regardless,” Moulton said of the growing demand for data infrastructure. “I’m just trying to plan and look at maybe this might be something for the future for the state and the community.”
Privately held cryptocurrency exchange Binance has partnered with BlockShoals Technologies as it plots a comeback in the Philippines.
Binance said on social media that the partnership will operate under the Philippine Securities and Exchange Commission’s Strategic Sandbox, also known as “StratBox.”
BlockShoals is a Philippine-registered company approved by regulators in the country.
More From Cryptoprowl:
Going forward, BlockShoals will serve as the local intermediary while Binance will provide technology, security, operations, product support, and compliance in the Asian nation.
The sandbox phase of Binance’s return to the Philippines is expected to begin in the second half of this year and run for two years.
Binance said the process will allow the partners to meet regulatory milestones before any wider rollout of its crypto services in the country.
The Philippines is one of Asia’s most active digital economies and a place where Binance has had success in the past.
However, Binance lost its access to the Philippines market after the exchange was found to be offering unregistered securities and operating as an unlicensed broker.
Other crypto firms have also been blocked in the Phillippines, including OKX, Bybit, and KuCoin, among others.
The Philippines’ government and markets regulator have cracked down on cryptocurrency companies, requiring that they register, maintain a local corporate presence, meet disclosure standards, and follow anti-money laundering regulations.
The regulator in the Philippines has warned that unregistered crypto platforms could face cease and desist orders, criminal complaints, website blocking, app removal, and financial penalties.
Binance’s partnership with BlockShoals provides the crypto exchange with a path back to the Philippines market.
As a private company, Binance’s stock does not trade on a public exchange.
U.S. President Donald Trump has sided with the Commodity Futures Trading Commission (CFTC) amid an ongoing legal fight with states over the multi-billion-dollar prediction markets.
In a post on Truth Social on Tuesday, Trump said,
It’s critically important that the CFTC’s exclusive authority over prediction markets is maintained and that they thrive. It’s a major industry, and we must protect it.
Source: Truth Social
It’s worth pointing out that Trump backed the sector as ‘financial markets’ and not ‘gambling’ platforms, as critics portray them. In fact, this is a similar framing that most supporters, like venture firm a16z and others, have been using.
For them, prediction markets are crucial risk management tools for hedging against future events. As such, they should be allowed to “thrive” and improve through enough liquidity.
But ongoing states’ push for control over the sector can fragment liquidity and make prediction markets less accurate as forecasting tools.
Prediction markets: Is Trump enough for states to back off?
In contrast, some states argue that these platforms are operating as betting sites and should be treated as such under gambling laws.
In fact, the trading volumes on the two major platforms, Polymarket and Kalshi, are dominated by sports and elections markets. For critics, this makes them “100% gambling platforms.”
Against this backdrop, Minnesota recently passed a law that bans prediction markets with criminal charges for anyone found operating them. Arizona, Connecticut, Illinois, New York, and Wisconsin have also moved to ban or regulate these markets.
In rejoinder, the CFTC has moved to block these moves, claiming sole authority in the sector.
So, Trump’s backing for the CFTC and its chair, Mike Selig, could boost the federal regulator’s push and authority claim over the sector.
However, the different rulings on the jurisdictional fight by lower courts suggest that the final decision may rest with the Supreme Court, not Trump’s support.
That said, Trump slammed Chris Christie, an advisor to the American gambling industry lobby, which opposes prediction markets. Similarly, the president took a swipe at governors and judges who are pushing back against prediction markets, calling them ‘scums.’
However, one must remember that the Trump family also has a conflict of interest in the sector.
Donald Trump Jr. is an investor and part of the advisory board at Polymarket. He’s also a strategic advisor to Kalshi, and Trump’s Truth Social has rolled out its prediction platform, TruthPredict, in partnership with Crypto.com.
Final Summary
Trump has backed prediction markets as a ‘new form of financial markets,’ pressing for the CFTC to have exclusive authority in the sector.
However, the Trump family’s conflict of interest in the segment continues to raise scrutiny.
