Marvell Technology (MRVL) surged 5.1% in after-hours trading following the release of its fiscal Q3 results, which exceeded analyst expectations. The chipmaker reported adjusted earnings of $0.76 per share, beating the consensus estimate of $0.73, while revenue rose 37% year-over-year to $2.07 billion.

The company attributed the strong performance to robust demand for its data center products, with CEO Matt Murphy highlighting record revenue in this segment. Marvell also issued upbeat guidance for Q4, forecasting revenue of $2.20 billion (±5%), slightly above Wall Street's expectations.

Investors reacted positively to Marvell's announcement of its $3.25 billion acquisition of Celestial AI, a leader in photonic fabric technology for optical interconnects. The deal, which includes $1 billion in cash and stock, is expected to strengthen Marvell's position in next-generation AI data center connectivity. The acquisition is slated to close in early 2026, with meaningful revenue contributions anticipated by fiscal 2028.