New York, January 24, 2026, 19:18 (EST) — Market closed.
- Marvell Technology (MRVL) ended Friday at $80.23, slipping 3.5%.
- Investors are now factoring in deal timing, following the FTC’s early-termination notice on Marvell’s Celestial AI acquisition.
- The Fed’s decision next week, paired with a busy stretch of U.S. tech earnings, will drive momentum for AI-linked chip stocks.
Shares of Marvell Technology dropped 3.5% on Friday, closing at $80.23, wrapping up a volatile run for the AI-focused chipmaker before markets reopen Monday.
The decline hits hard because Marvell is caught between two critical trades: hefty data-center investments and deal execution. When investors grow wary, these stocks seldom earn any slack.
The calendar ahead is packed, and just one major macro headline or a weak report from Big Tech could upend the entire sector before Marvell gets a chance to make its case.
Friday’s dip came amid wider jitters after Intel tumbled on a weak forecast, with investors gearing up for a “show-me” tech earnings season. “We’re feeling pretty good, but mindful we might have some significant twists and turns,” said Jason Blackwell, chief investment strategist at Focus Partners Wealth. Janus Henderson’s Julian McManus described it as a “show-me” phase where companies must “put up the revenue growth” behind the AI rally. (Reuters)
On the corporate front, all eyes remain on Marvell’s planned acquisition of Celestial AI. The U.S. Federal Trade Commission issued an early-termination notice for the deal dated Jan. 21, signaling the Hart-Scott-Rodino waiting period wrapped up ahead of schedule — a key procedural hurdle that can clear the way for closing once other conditions are satisfied. Marvell first announced the transaction in December and expects to finalize it in the first quarter of calendar 2026. (Federal Trade Commission)
Marvell is betting big on Celestial’s photonics tech to boost data transfer while cutting power use by swapping electrical signals for light. CEO Matt Murphy told Reuters back in December, “We’re going to have a silicon photonics powerhouse at Marvell when this is all done.” (Reuters)
The deal also intensified competition. Reuters reported that Marvell granted Amazon a warrant linked to photonic fabric product purchases through 2030. TD Cowen noted the move “bolsters Marvell’s” push into co-packaged optics—technology that places optical connections nearer to processing chips for faster data transfer. (Reuters)
Marvell hasn’t just stopped at Celestial. Earlier this month, it struck a deal to acquire networking gear maker XConn for about $540 million, pushing deeper into the infrastructure that supports AI data centers. (Reuters)
Still, the near-term outlook remains uncertain. Should risk appetite wane once more, high-valuation semiconductor stocks could plunge sharply, even absent any company-specific news. Doubts about the speed of cloud spending—or questions over the timing and integration of Marvell’s acquisitions—could push the stock down further.
In the coming week, traders will focus on Monday’s open before shifting attention to the Federal Reserve’s Jan. 27–28 meeting and its rate decision set for Wednesday, Jan. 28. This event could heavily impact rate-sensitive growth sectors like semiconductors. (Federalreserve)
