Marvell Technology (MRVL US) Upgrade to Buy: Ready to ride the AI-networking super-cycle

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Marvell Technology (MRVL US) Upgrade to Buy: Ready to ride the AI-networking super-cycle

Equities ● Semiconductors & Equipment

26 May 2026

Appendix: Why DSPs are a critical part optical transceivers

The DSP performs critical tasks at both the transmitter (Tx) and receiver (Rx) sides of an optical

module:

1. Signal Encoding and Decoding (Modulation): The DSP converts analog signals to

digital for the receiver (Rx) and digital to analog for the transmitter (Tx)

• Transmitter: The DSP takes incoming digital electrical data and maps it into

complex modulation formats. It encodes this information into the properties of

light, including its amplitude, phase, and polarization.

• Receiver: It performs the inverse process, taking the raw, degraded light

signal captured by the photodetectors and translating it back into a precise

stream of digital bits.

2. Compensation of Fiber Impairments: Fiber optic cables introduce physical

distortions that degrade the signal. The DSP acts as a filter to mathematically undo

these effects:

• Chromatic Dispersion (CD): Corrects the phenomenon where different

wavelengths of light travel at different speeds causing signal pulses to spread

out.

• Polarization Mode Dispersion (PMD): Compensates for signal distortion

caused by the different polarization states of light travelling at different

speeds.

• Nonlinear effects: At high power levels, the optical fiber itself introduces

nonlinear noise. The DSP applies complex algorithms to mitigate these

distortions.

3. Signal Synchronization and Recovery: To interpret the incoming data correctly, the

DSP must perfectly align with the incoming light stream:

• Carrier and Phase Recovery: It compensates for frequency and phase

mismatches between the transmitter’s laser and the receiver’s local oscillator.