Serenity: If Celestial Goes Public Independently, Valuation Could Reach $6 billion to $10 billion Based on CPO Business Potential

BlockBeats News, August 31st, Serenity stated on social media that if Celestial (acquired by Marvell) were still listed on the US market as an independent company at that time, its valuation could have reached $60 billion to $100 billion.

Serenity indicated that Celestial had previously projected its 2028 revenue to reach $500 million (annualized for the fourth quarter), further increasing to $1 billion in 2029. The company was a core participant in the ultra-large-scale cloud provider CPO (Co-Packaged Optics) project. In contrast, Celestial had nearly zero revenue in the second quarter of 2026, and Marvell had stated that its post-acquisition revenue and profit contribution were "not significant." Additionally, it incurred a quarterly loss of around $12.5 million, equivalent to an annualized loss of about $50 million.

Serenity believes that merely based on Celestial's current quarter P/S ratio and the $12.5 million quarterly loss, it might be seen as a "worthless Meme stock." However, when looking at the qualification cycle and the potential ultra-large-scale cloud provider CPO project opportunity in 2028, a reasonable valuation for it might be in the range of $60 billion to $100 billion.

Serenity pointed out that evaluating hard-tech companies still in the early stages of customer validation and commercialization reflects a fundamental divide between the US/European markets and cultures. Serenity believes that for such companies, the future revenue potential upon entering the large-scale commercialization phase and progress in customer validation are far more critical to consider than current quarter revenue and losses.