"Celestial AI will enable us to advance Marvell's long-term strategy to deliver the industry's most comprehensive data infrastructure platforms,†said Matt Murphy, Chairman and CEO of Marvell. "As AI systems continue to scale in size and complexity, customers require innovative connectivity solutions. The addition of Celestial AI's Photonic Fabric technology platform complements Marvell's existing portfolio and enhances our ability to address the most demanding requirements of next-generation AI and cloud da ...

Core Viewpoint - Marvell Technology, Inc. is actively pursuing growth in the AI sector through strategic acquisitions, specifically the planned acquisition of XConn for $540 million, which is expected to enhance its AI data center connectivity solutions [1][2][4]. Group 1: Acquisition Details - Marvell announced its intent to acquire XConn, a provider of PCIe and CXL switching silicon and UALink technology, for approximately $540 million [2]. - The acquisition is aimed at strengthening Marvell's switching portfolio and enhancing its Ultra Accelerator Link (UALink) scale-up switch team [2][4]. - Marvell's Chairman and CEO, Matt Murphy, emphasized that this combination will create a compelling switching platform for accelerated infrastructure, advancing the company's connectivity strategy for next-generation AI and cloud data centers [3]. Group 2: Analyst Insights - Raymond James analyst Simon Leopold reiterated a Strong Buy rating on Marvell with a price target of $125.00, indicating confidence in the company's growth potential following the acquisition announcement [1]. - The firm views the acquisition favorably, noting that XConn's technology can enhance Marvell's market reach and complement its xPU/ASIC offerings [4]. - Despite the acquisition, Raymond James is not adjusting its estimates for Marvell at this time, as XConn is described as an early-stage company [4].