Marvell to buy networking equipment firm XConn in $540 million deal amid AI push

Marvell Technology said on Tuesday it will buy networking ‍equipment provider XConn Technologies in a deal worth about $540 million, as the chipmaker ⁠doubles down on data center hardware amid a race to expand artificial intelligence infrastructure.

XConn’s acquisition will help the custom AI chipmaker expand its networking portfolio – ‌an essential ‌fixture in AI data centers that helps connect different types of hardware across servers and ‌is instrumental in determining the speed at which data can be processed.