Marvell Israel CEO: 'I have no doubt that the AI revolution will realize its potential'

Eran Heruti, CEO of Marvell Israel, stated at the 'Seeing Beyond the Trend' conference that he has no doubt the AI revolution will realize its potential, against the backdrop of the chip stock crash and the acquisition of Lumentum for $115 billion.

Eran Heruti, CEO of Marvell Israel and Vice President of Engineering at Cloud Switch BU, spoke at the 'Seeing Beyond the Trend' conference by Globes in partnership with Altshuler Finance, stating that he has no doubt the AI revolution will realize its technological potential. The conversation, moderated by Asaf Gilad, Globes' high-tech editor, opened against the backdrop of the sharp decline in the US stock market on Thursday, led by the chip sector. The chip index fell by 12%, and Marvell's stock fell by 16.4%. Heruti addressed the acquisition of Lumentum for $115 billion in stock, saying that Marvell is becoming the leading player in the connectivity market but is not yet in a position to compete with Nvidia. He noted that revenues are expected to reach $12 billion this year and $20 billion next year, of which $18 billion will come from the data center. Heruti emphasized that the long-term strategic thinking is based on physical constraints, and he is convinced that the CAPEX investments will materialize.