Marvell Technology Bolsters AI Infrastructure with Back-to-Back Acquisitions

Marvell Technology US5738741041

In a clear push to expand its capabilities in artificial intelligence hardware, Marvell Technology has finalized two strategic acquisitions in early February 2026. The semiconductor firm is now navigating the final regulatory details for both deals, which were completed in rapid succession.

The company's acquisition spree began on February 2, 2026, with the purchase of Celestial AI, a developer of optical interconnect technology known as Photonic Fabric. Just eight days later, on February 10, Marvell closed its second deal, acquiring XConn Technologies. XConn specializes in switching silicon for PCIe and CXL connections, components that are fundamental to the architecture of modern AI data centers.

To facilitate these transactions, Marvell has filed separate registrations for the reissuance of shares. Following the Celestial AI deal, the company registered over 24 million shares on February 6. Subsequently, on February 18, it registered approximately 2.1 million shares related to the XConn Technologies acquisition. It is important to note that Marvell will not receive any cash inflows from the resale of these securities; the registrations are purely for administrative settlement of the purchases.

Institutional Investors Show Confidence

This aggressive expansion strategy appears to have garnered attention from major institutional investors. Recent 13F filings reveal significant position building. The Vanguard Group increased its stake by about 23.5 percent, bringing its total holding to over 79 million Marvell shares. In the third quarter, Ingalls & Snyder LLC established a new position valued at roughly $3.35 million.

Trading on the Nasdaq, Marvell's stock was priced at $79.01 as of Tuesday, February 17, 2026.

Scaling for the Cloud and AI Era

The consecutive acquisitions signal Marvell's intent to scale its infrastructure solutions for cloud and AI applications simultaneously on multiple fronts. By integrating Celestial AI's photonic fabric and XConn's high-performance switching silicon, the company aims to solidify its standing in the high-performance connectivity sector.

These moves are part of a broader play to capture a leading role in the expanding market for specialized AI hardware. The coming quarters will reveal whether the integration of these new technologies yields the synergistic benefits Marvell is anticipating.