Stifel says Marvell, Mojo Vision partnership sets up micro-LED optics battle

Stifel analyst Tore Svanberg notes that on Thursday, Marvell (MRVL) announced a long-term collaboration with Mojo Vision to support the commercialization of its micro-LED platform. The partnership began in September 2025, when Marvell led Mojo Vision’s most recent funding round, a $75M Series B Prime, valuing the company at about $280M post-money, and the two companies agreed to jointly develop new optical interconnects over multiple hardware generations. Mojo Vision’s micro-LED interconnects have been in development for over a year and are expected to support a multitude of networking topologies and applications, although the firm believes it will most likely be initially focused on scale-up applications. Stifel notes Marvell’s recent Celestial AI acquisition and forthcoming SiPho roadmap could benefit from the Mojo Vision micro-LED partnership announced today. The firm has a Buy rating on Marvell.