Marvell Technology is trading 3.23% up at $18.53 after investors continued rewarding its expanded multi-year GlobalFoundries agreement, which increases silicon-germanium capacity for AI data-center optical connectivity.
- The agreement covers pluggable transceivers, near-packaged optics, and co-packaged optics.
- Reuters reported that the deal supports higher production capacity.
- The semiconductor sector is up 2.62%, while broader strength and improving market sentiment are adding momentum.