Marvell Technology shares jump 5.90% intraday after completing acquisition of Celestial AI to boost AI data center connectivity.

Marvell Technology (MRVL) surged 5.90% intraday following the announcement of its acquisition of Celestial AI, a company specializing in optical interconnect technology. The deal strengthens Marvell’s data center capabilities in the AI sector, aligning with growing demand for high-speed connectivity solutions. Analysts highlighted the strategic value of the acquisition, with RBC reiterating an "Outperform" rating, citing enhanced AI infrastructure positioning. While a SEC filing for a prospectus supplement and institutional investor activity were noted, the Celestial AI deal emerged as the primary catalyst for the stock’s upward momentum. The move reflects market optimism about Marvell’s long-term growth prospects in AI-driven data center markets.