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Marvell Technology (MRVL) announced its earnings report on [insert date here], revealing $2.075 billion in revenue—a 37% year-over-year increase—and a non-GAAP EPS of $0.76, surpassing analyst expectations. Following this news, shares rose nearly 6% in trading.
In a strategic move, Marvell also disclosed plans to acquire Celestial AI, a startup focused on photonics technology aimed at enhancing AI and cloud data centers. This acquisition positions Marvell alongside established companies in the optical-interconnect market, as it shifts towards silicon photonics to support the growing demands of AI infrastructure.
With this acquisition, Marvell aims to create a comprehensive connectivity platform that combines its existing semiconductor capabilities with Celestial’s innovation in photonics, enhancing its competitive edge in the rapidly evolving AI landscape.
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