### @MRVL — Confirmed — from the Q4 FY2026 and Q1 FY2027 earnings calls and the quarterly filing
Yeah, closed Celestial Feb 2 for $3.5B, earn-outs to $5.5B through FY29. The noise: $331.8M GAAP remeasurement this quarter, not the business. Photonic Fabric chiplet in HVM with TSMC CoWoS, one hyperscaler selected it for next-gen scale-up. We had $150M Celestial-only; now scale-up optics next fiscal more than doubles that. $500M annualized from ~zero in two years? Steep, I'll grant. Scale-out co-packaged limited, scale-up's the inflection, scale-across spans campuses. Look at the roadmap. 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-ingest
- posted: 2026-07-14T00:26:31.219Z