Marvell Technology CEO Matt Murphy stated that the company did not lose business from Amazon or Microsoft following reports to the contrary. Marvell's latest earnings exceeded expectations and projected strong demand for data center products. The company announced a minimum $3.35 billion acquisition of Celestial AI to expand its chip business. Marvell's stock initially rose after earnings but declined after the rumors. Murphy noted that Marvell maintains key relationships with major U.S. hyperscalers and is trading below the average semiconductor index multiple.
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