Changes in US stocks | CEO denies loss of orders from Amazon and Microsoft, rumor has it that MRVL.US (MRVL.US) rose more than 1.7% before the market

The Zhitong Finance App learned that before the US stock market on Wednesday, Maywell Technology (MRVL.US) stock price rose more than 1.7%. The company's CEO (CEO) Mark Murphy denied recent reports of its loss of business from Amazon (AMZN.US) and Microsoft (MSFT.US) in an interview, which boosted market sentiment.

Murphy emphasized that the company's business has not changed. “I can tell you that from Tuesday to Friday, nothing changed and we haven't lost any business.” It directly refuted previous media rumors about the loss of customers.

Earlier this week, there were media reports that Microsoft was seeking assistance from Broadcom (AVGO.US) to develop custom AI chips; at the same time, Benchmark downgraded its stock rating based on a high level of confidence that “Maywell Technology lost the Amazon chip design order.” This news once raised concerns in the market about the stability of Maywell Technology's customer base.

However, when announcing quarterly results this month, Maywell Technology already gave a business outlook for the next two years, and was generally positively evaluated by Wall Street analysts. Additionally, the company confirmed that it will acquire photonic interconnect technology company Celestial AI for at least $3.25 billion, including $1 billion in cash and 27.2 million shares of Maywell Technology (approximately $2.25 billion at current valuation). The industry generally believes that the acquisition will further strengthen Maywell Technology's layout in the field of AI acceleration and high-performance interconnection.