Marvell Acquires Celestial AI for $3.25B

Marvell Technology, a chipmaker, announces its acquisition of Celestial AI, a semiconductor startup, for $3.25 billion. This move aims to enhance Marvells networking products and compete with rivals like Broadcom and Nvidia. The acquisition, valued at $1 billion in cash and $2.25 billion in stock, reflects Marvells commitment to innovation and its strategic positioning in the semiconductor market. The deal is driven by the growing demand for AI applications, which require faster and more efficient chips. This acquisition is part of a broader trend of consolidation and strategic investments in the tech industry to keep up with rapid technological advancements.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.