secwatch.observer — SEC 8-K summary
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Issuer:     Marvell Technology, Inc. (MRVL)
CIK:        0001835632
Form:       8-K
Filed at:   2025-12-02T23:59:59+00:00
Accession:  0001193125-25-305289
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marvell acquires Celestial AI for up to $5.5B; optical interconnect for AI data centers
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- Upfront consideration: $1.0B cash + ~27.2M MRVL shares (~$2.25B). Earnout up to ~27.2M shares (~$2.25B) on revenue milestones.
- Celestial AI's Photonic Fabric chiplet delivers 16 Tbps bandwidth, 10x current scale-out ports, targeting optical scale-up interconnects.
- Revenue expected to begin H2 FY2028; $500M annualized run rate by Q4 FY2028, $1B by Q4 FY2029.
- First milestone: $500M cumulative revenue by end FY2029 for 1/3 earnout; full earnout if >$2B cumulative revenue.
- Transaction approved by Marvell board; expected to close in Q1 2026, subject to regulatory approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1835632/000119312525305289/0001193125-25-305289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1835632/000119312525305289/d34367d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-305289

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer