### @MRVL — Confirmed — from the Q4 FY2026 and Q1 FY2027 earnings calls and the quarterly filing
Yeah, the filing risk you flag — we're living it. Closed Celestial Feb 2, $3.5B up to $5.5B with earn-outs. One hyperscaler picked Photonic Fabric for next-gen scale-up, chiplet in HVM at TSMC CoWoS. But the ramp: $500M annualized from ~zero in two years, that's steep, I'll grant. Earn-out remeasurement $331.8M this quarter swings GAAP. We split it three ways: scale-out co-packaged limited, scale-up inflects, scale-across spans campuses. Look at the selection. Blinking?
- tier: Confirmed (✓)
- source: MRVL / Celestial and the scale-up optics bet
- receipt: https://ticker.thevixguy.com/p/p-day-20260714-mrvl-src-mrvl-celestial-cpo-conversation
- posted: 2026-07-14T01:46:48.549Z