Marvell Technology

Marvell Celestial AI Acquisition

Period	Item	Printed figure
2 Feb 2026. Close	Acquisition close	Completed 2 Feb 2026. Photonic Fabric platform for next-generation scale-up interconnect. Results included from the close date through the quarter ended 2 May 2026.
Q1 FY2027 10-Q. Purchase consideration	Total purchase consideration	$3,537.4 million. Cash $1,279.7 million. Common stock issued $1,929.0 million (24.5 million shares). Replacement equity awards $12.9 million. Contingent consideration $315.8 million. Net of cash acquired $3,234.6 million.
Q1 FY2027 10-Q. Goodwill and IPR&D	Allocation	Goodwill $2,404.4 million. Acquired intangible assets $951.0 million, all in-process research and development. Transaction costs $29.1 million in the quarter ended 2 May 2026.
Q1 FY2027 10-Q. Contingent consideration cap	Earn-out (maximum)	Maximum potential settlement approximately $233.0 million of undiscounted cash and approximately 22.4 million shares of common stock, contingent on specified revenue milestones through fiscal 2029.
Q1 FY2027 10-Q. Post-close contribution	Celestial revenue and earnings	Not material from the acquisition date through 2 May 2026. No Celestial dollar line is printed.
Q4 FY2026 call. CPO run-rate outlook	Celestial CPO outlook (as of 5 Mar 2026)	On track for CPO revenue from Celestial to reach a $500 million annualized run rate in 2028, doubling to a $1 billion annualized run rate by 2029.
Q1 FY2027 call. Scale-up optics outlook	Scale-up optics outlook (as of 27 May 2026)	Selected by a Tier 1 hyperscaler for its next generation of XPU scale-up networks. Scale-up optics next fiscal year forecasted to more than double the prior approximately $150 million outlook, which at that time was based solely on Celestial.

Marvell Communications and Other Revenue (Quarterly)

Communications and other revenue

Marvell Custom ASIC and XPU Status

Period	Topic	Printed update
FY2026. Custom revenue	Custom ASIC / XPU revenue	Scaled from zero to $1.5 billion in fiscal 2026. First meaningful ramp in fiscal 2025. First full production year in fiscal 2026. Doubled year over year.
FY2027 outlook. Custom growth	Custom revenue growth (outlook)	On track to grow more than 20% year over year, led by the flagship XPU program. Reaffirmed on the Q1 FY2027 call.
FY2028 outlook. Custom growth	Custom revenue growth (outlook)	Expected to more than double year over year, higher than the prior outlook. Drivers: existing programs including the flagship XPU, over 10 XPU-attach programs at higher volume, and a new Tier 1 XPU program entering volume production.
FY2029 target. Custom model	Custom revenue target (outlook)	Management reaffirmed line of sight to the target model of over $10 billion of custom revenue in fiscal 2029. Context given on the Q1 FY2027 call: April 2024 long-term custom TAM implied about $8 billion; June 2025 custom silicon event implied over $10 billion at a 20% share of a larger TAM.
Q1 FY2027. XPU-attach programs	XPU-attach (CXL and NIC)	Several XPU-attach programs ramping in fiscal 2027, including CXL and NIC products. Over 10 XPU-attach programs expected at higher production volumes, with demand above prior forecasts, particularly NIC and CXL memory-attach for inference KV cache.
Q1 FY2027. New Tier 1 XPU	New Tier 1 XPU program	In development and progressing through milestones. Firm requirements in place for all of fiscal 2028. Management said the program is a key part of fiscal 2028 custom growth but not the only piece.
Aug 2026. Google TPU-attach agreement	Google custom products (named)	Commercial agreement dated 29 Jul 2026 covering custom silicon that attaches to the TPU ecosystem: AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory compute. Warrant issued 18 Aug 2026 for up to 58,970,907 shares at $206.58. 1,360,867 shares vest in equal quarterly installments in the first year. Remaining shares vest in 240 equal tranches from Q3 FY2027 through FY2033, one tranche per $500 million of Custom Products revenue.

Marvell Design Wins and Named Engagements

Period	Program	Printed update
FY2026. Record design wins	Company-wide design wins	CEO: design wins in fiscal 2026 hit an all-time record. Q&A: 20-plus design wins or product sockets that are in production or going into production, layering in through fiscal 2028 and fiscal 2029.
Q4 FY2026 / Q1 FY2027. AEC Golden Cable	Active electrical cable (Golden Cable)	Design wins with three Tier 1 U.S. hyperscalers, plus several other customers including model builders and hardware OEMs (Q4). Reaffirmed on the Q1 FY2027 call.
Q4 FY2026 / Q1 FY2027. Celestial scale-up	Celestial Photonic Fabric / CPO	Q4: Celestial brought a significant design win and engagement for CPO in scale-up / UALink. Q1: selected by a Tier 1 hyperscaler for its next generation of XPU scale-up networks.
Q1 FY2027. New custom sockets	Custom XPU and XPU-attach	Several new designs won since the prior quarter. Expected to contribute after a typical development cycle of approximately two years. Custom engagements described as spanning all U.S. hyperscalers (mix of XPU, XPU plus attach, or attach-only).
Q1 FY2027. Scale-up switches	UALink, ESUN, NVLink Fusion switches	Multiple engagements with Tier 1 customers for the scale-up switch portfolio. Each engagement described as a multi-billion-dollar lifetime revenue opportunity. Not a printed booked-revenue figure.
Q1 FY2027. DCI hyperscalers	DCI pluggable modules	Ships DCI solutions to all five major U.S. hyperscalers.
Q1 FY2027. NVIDIA collaboration	NVIDIA optics, NVLink Fusion, AI RAN	Three printed pillars: optics collaboration extending DSPs, TIAs, and drivers into silicon photonics for scale-up; NVLink Fusion so Marvell custom and networking silicon can interface with NVIDIA infrastructure; AI RAN pairing Octeon base-station processors with NVIDIA GPUs. Not a printed design-win dollar.
Aug 2026. Google custom products	Google TPU-attach custom silicon (named)	Commercial agreement dated 29 Jul 2026. Custom silicon attaching to the TPU ecosystem (AI inference accelerators, storage controllers, NICs, memory interface controllers, near-memory compute). Warrant for up to 58,970,907 shares at $206.58, with performance vesting from Q3 FY2027 through FY2033.

Marvell Electro-Optics and DSP Status

Period	Product line	Printed update
FY2027 outlook. Interconnect growth	Interconnect (scale-out, scale-across, scale-up)	Q4 FY2026 outlook was more than 50% year-over-year growth in fiscal 2027. Q1 FY2027 call raised that to more than 70% year over year. Interconnect described as the largest portion of the data center business.
FY2026-H2 / FY2027. PAM4 800G and 1.6T	PAM4 DSP (800G and 1.6T)	800G demand remained strong. 200-gig-per-lane 1.6T solutions launched production in the second half of fiscal 2026 and were ramping in fiscal 2027. Management expects another substantial 1.6T step-up in fiscal 2028.
Q1 FY2027. TIA and drivers	Broadband analog TIAs and drivers	Expected quarterly revenue from TIAs and drivers to exceed a $1 billion annualized run rate in the next few quarters.
FY2026 / FY2028 outlook. DCI modules	Data center interconnect modules	Fiscal 2026 DCI module revenue roughly $500 million. Line of sight to a $1 billion annualized run rate during fiscal 2028. Industry-first secure 1.6T ZR and ZR+ modules on a new 2nm coherent DSP, expected to begin sampling in calendar 2026. Ships DCI to all five major U.S. hyperscalers.
Q1 FY2027. Scale-up optics	NPO / CPO / silicon photonics light engines	Engaged with multiple Tier 1 customers on a third-generation 6.4T light engine for NPO and CPO. Scale-up optics revenue next fiscal year forecasted to more than double the prior approximately $150 million outlook (that prior outlook was Celestial-only at the time).
Q4 FY2026 / Q1 FY2027. AEC and retimers	AEC DSPs and PCIe retimers	Golden Cable AEC design wins at three Tier 1 U.S. hyperscalers plus other customers. Combined AEC and retimer revenue expected to more than double year over year in fiscal 2027 (Q4: double; Q1: more than double).
Apr 2026. Polariton plasmonics	Plasmonic silicon photonics (Polariton)	Acquisition announced 22 Apr 2026. Polariton demonstrated plasmonic modulator bandwidth exceeding 1 terahertz. Financial terms were not disclosed. Intended for DCI and coherent-lite roadmaps at 3.2T and beyond.

Marvell 5nm, 3nm, and 2nm Process Status

Period	Node	Printed status
FY2026 10-K. 5nm designs	5nm	Successfully executed multiple 5nm designs in the last few years. No 5nm share of revenue is printed.
FY2026 10-K. 3nm designs	3nm	Progressing through 3nm designs. No 3nm share of revenue is printed.
FY2026 10-K. 2nm platform	2nm	Developing the advanced 2nm generation platform. Foundational IP listed on 5nm, 3nm, 2nm, and 1.4nm (A14). Products in development at 2nm, 1.4nm, and smaller geometries.
Q4 FY2026. 2nm coherent DSP	2nm coherent DSP (DCI)	Announced industry-first secure 1.6T ZR and ZR+ DCI modules powered by a new 2nm coherent DSP, plus a 2nm 800G DSP for lower-power second-generation 800G DCI modules. Modules expected to begin sampling later in calendar 2026.
Q4 FY2026. 2nm and below custom	2nm and below (custom)	Management cited a massive opportunity on 2nm and below process technologies in custom chip discussions with hyperscalers. Not a printed revenue mix.

Employee Count

Employees

KPI data tables

Marvell Technology operating metrics behind the KPI charts, newest period first (up to 24 periods per chart). Periods use each company's own fiscal labels where the source does; each table names its source.

Marvell Communications and Other Revenue (Quarterly) (usd_millions)
Period	Communications and other revenue
Q2 FY2027	567.8
Q1 FY2027	585.1
Q4 FY2026	567.4
Q3 FY2026	556.6
Q2 FY2026	515.6
Q1 FY2026	454.7
Q4 FY2025	451.6

Source: Marvell Exhibit 99.1 earnings releases and Form 10-Q end-market tables, printed Communications and other quarterly dollars (not FY annual $2,094.3 / $1,603.1). Q4 FY2025 $451.6 million, Q3 FY2026 $556.6 million, and Q4 FY2026 $567.4 million: Exhibit 99.1 for the quarter ended 31 Jan 2026 (https://www.sec.gov/Archives/edgar/data/1835632/000183563226000006/q426_8kx1312026ex-991.htm). Q1 FY2026 $454.7 million and Q1 FY2027 $585.1 million: Exhibit 99.1 for the quarter ended 2 May 2026 (https://www.sec.gov/Archives/edgar/data/1835632/000183563226000014/q127_8kx522026ex-991.htm) and Form 10-Q (https://www.sec.gov/Archives/edgar/data/1835632/000183563226000019/mrvl-20260502.htm). Q2 FY2026 $515.6 million (restated) and Q2 FY2027 $567.8 million: Exhibit 99.1 for the quarter ended 1 Aug 2026 (https://www.sec.gov/Archives/edgar/data/1835632/000183563226000022/q227_8kx812026ex-991.htm) and Form 10-Q (https://www.sec.gov/Archives/edgar/data/1835632/000183563226000025/mrvl-20260801.htm). Fiscal year ends on the Saturday nearest 31 January.

Marvell Celestial AI Acquisition

Marvell Communications and Other Revenue (Quarterly)

Marvell Custom ASIC and XPU Status

Marvell Design Wins and Named Engagements

Marvell Electro-Optics and DSP Status

Marvell 5nm, 3nm, and 2nm Process Status

Employee Count

KPI data tables

Ask Sterling

Marvell Celestial AI Acquisition

Marvell Communications and Other Revenue (Quarterly)

Marvell Custom ASIC and XPU Status

Marvell Design Wins and Named Engagements

Marvell Electro-Optics and DSP Status

Marvell 5nm, 3nm, and 2nm Process Status

Revenue by Product/Service

Revenue by Geography

Employee Count

Revenue by Product/Service

Revenue by Geography