Marvell Technology (MRVL) Soars on Celestial AI Deal and Record Q3 Earnings: What Investors Need to Know Now
Marvell Technology reported record Q3 FY2026 revenue of $2.075 billion, up 37% year-over-year, and announced a $3.25 billion cash acquisition of Celestial AI. Shares rose about 2% to $92.89 on December 3, giving Marvell a market cap near $80 billion. The company’s GAAP EPS hit $2.20, boosted by the sale of its automotive Ethernet business to Infineon. Marvell guided Q4 non-GAAP EPS to $0.74–0.84.