Why Marvell Technology Rallied in May

Marvell Technology shares rallied 24.1% in May, driven by strong first-quarter earnings and a $6.5 million investment from AMD. Revenue grew 28% to $2.4 billion, with adjusted EPS up 29% to $0.80, both beating analyst expectations. Management forecast $2.7 billion in revenue and $0.93 adjusted EPS for the current quarter. The AMD investment signals a closer partnership between the two chip companies.