Marvell Technology is trading at $17.59, up 9.39%, after expanding its Google partnership to develop custom AI chips.
- Google received a warrant for up to 58.97 million Marvell shares at $206.58 each, potentially worth approximately $12.2 billion if fully exercised.
- The agreement links future share vesting to Google’s chip purchases through fiscal 2033, reinforcing expectations for substantial AI-infrastructure revenue.
- Broader semiconductors are weaker, but company-specific news dominates today’s move.