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Marvell pops 6% on AI chip deal that lets Google buy up to $12.2 billion in shares
Marvell Technology's stock surged by 6% following the announcement of a deal allowing Google to purchase up to $12.2 billion in shares, cementing their collaboration on custom AI chips. This pact, detailed in a securities filing, involves a potential acquisition of nearly 59 million shares at $206.58 each. The extended agreement emphasizes products related to the tensor processing unit ecosystem, including AI inference accelerators and networking solutions.
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Published 19 Aug 2026, 15:55 UTC1 min read
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Summary
TL;DR
- Marvell shares rose 6% in response to Google's investment.
- The deal allows Google to purchase up to $12.2 billion in Marvell shares.
- Google can buy up to 58,970,907 shares at $206.58 each.
- The stake is conditioned on purchasing targets through the 2033 fiscal year.
- The expanded agreement focuses on AI chip products, including inference accelerators.
Interesting facts
- This partnership reflects the growing investment in AI chip technology.
- The deal could strengthen Marvell's position in the competitive AI hardware market.