Marvell to acquire Celestial AI for as much as $5.5 billion
Marvell Technology Group Ltd. headquarters in Santa Clara, California, on Sept. 6, 2024.David Paul Morris | Bloomberg | Getty ImagesSemiconductor company Marvell on Tuesday announced that it will acquire Celestial AI for at least $3.25 billion in cash and stock.The purchase price could increase to $5.5 billion if Celestial hits revenue milestones, Marvell said. Marvell shares rose 13% in extended trading Tuesday as the company reported third-quarter earnings that beat expectations and said on th...
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