【US Stock Market Movement】Marvell Technology plunges on September 28: OpenAI halts training + AI concerns + sector downturn

Marvell Technology September 28 — Major Decline Analysis

Keywords: OpenAI training halt, AI concerns, sector downturn

1. On September 28, OpenAI suspended training of its latest artificial intelligence model. Combined with reports on artificial intelligence security incidents, AI chip stocks such as AMD fell simultaneously, and expectations for Marvell's custom chip and optical interconnect business demand were affected.

2. On September 28, oil prices rose and U.S. Treasury yields climbed to a 19-year high. Both the Nasdaq 100 Index and the S&P 500 Index moved lower, with chip and optical communication sectors generally down. Marvell dropped more than 3% in pre-market trading.

3. On September 25, Marvell's forward price-to-earnings ratio was approximately 48 times, significantly higher than its average level of around 35.3 times since 2023. After a cumulative year-to-date increase of 193.27%, valuation correction and profit-taking pressure intensified.

4. On September 28, Marvell’s former Chief Information Officer, Nishit Sahai, joined Altera as Chief Information Officer, disclosing changes in the company’s senior management team.

(Disclaimer: This content is summarized from publicly available information by AI technology, for reference only and does not constitute investment advice.)