Why Marvell’s stock is soaring toward its best day in months after earnings

Key Highlights

• Marvell Technology's shares rose by 8.73% after announcing a $3.25 billion acquisition of Celestial AI.
• The acquisition includes a $1 billion cash payment and $2.25 billion in Marvell shares.
• Marvell projected a 20% increase in custom chip sales for the next fiscal year.
• The company reassured investors of steady growth, citing renewed orders from large customers.
• CEO Matt Murphy expressed optimism about future revenue growth during a post-earnings call.