Marvell Wins Major Google AI Chip Deal
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Marvell on Wednesday announced that it would develop custom chips for the search giant, along with warrants giving Google the option to buy more than $12 billion worth of Marvell stock. MRVL rose 10% and extended gains in the overnight session, while shares of Google's other chip vendor Broadcom dropped 4.6%.
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Aug 19 (Reuters) - Marvell Technology said on Wednesday it has issued Alphabet's Google a warrant to buy a stake worth about $12.18 billion as part of a deal to help develop custom chips for the search giant.