Marvell President and CEO, Matt Murphy, joined Jim Cramer and the team of CNBC’s Squawk Alley to talk about the impact of COVID-19 on the semiconductor market, including 5G, the broader business community and the company’s unwavering mission.
Matt shared his thoughts on the critical role that semiconductor technology plays in the current world crisis, particularly given the excess load that has been put on every nation’s data infrastructure due to remote work. And, how semiconductors are the essential building blocks of the networks of the world – from 5G to cloud infrastructure to advanced interconnect products.
“Companies are re-thinking their work force and footprint and 5G is a critical part of that. “5G will play a key role not only because of the bandwidth, improved data rates, but the lower latency and improved reliability of that network I think will be a big deal for remote work and different ways of working in the future.”
In terms of COVID-19’s impact on Marvell, Matt shared that the company is “strong, healthy and aligned to strong growth in end markets.” He emphasized that there are no plans to do lay-offs because of COVID-19. The company’s current “mission”, Matt stated, is to enable Marvell’s employees to take care of customers, themselves and their families.
To that end, Matt praised the Marvell team and touted the fact that the company recently taped out one of the largest and most complex chips in the history of Marvell, from home, and on schedule.
“I just could not be prouder of our team and how well they have been doing during this very dramatic change in how we operate.”
To hear more from Matt and the discussion with Jim Cramer and the CNBC Squawk Alley team, watch the full video below.