Dec 2 (Reuters) – Chipmaker Marvell Technology said on Tuesday it will buy semiconductor startup Celestial AI in a cash-and-stock deal worth $3.25 billion, as it looks to upgrade its networking products amid intensifying competition from bigger rivals Broadcom and Nvidia. Marvell's shares were down 6% in extended trading. The generative AI boom has sped up chipmakers' development process, as they rush to design the fastest, most energy-efficient equipment for advanced data centers. Under the terms of the deal, Celestial AI will receive $1 billion in cash and 27.2 million shares of Marvell common stock, having a value of $2.25 billion. (Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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