Marvell (MRVL) stock slides nearly 4% even as FTC ends waiting period on Celestial AI deal
Marvell Technology shares dropped 3.9% to $79.90 Friday, despite U.S. antitrust officials granting early termination for its $3.25 billion Celestial AI acquisition. The stock fell amid a sector-wide selloff triggered by Intel’s sharp decline. Over 9 million Marvell shares traded hands. The Celestial deal is expected to close in Q1 2026.