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Marvell Agrees AI Chip Deal With Google, Issues Warrant

8/20/2026

Summary

Story summary

Marvell Technology agreed to develop AI chips for Google and issue a warrant for 58.97 million shares.
The warrant lets Google purchase shares at $206.58 each, worth $12.18 billion if exercised.
Exercising the warrant could make Google the fifth-largest investor in Marvell.
Marvell could earn $120 billion in revenue through fiscal 2033 if Google meets the targets.
Regulators may examine the deal because it blurs buyer, vendor and investor lines in AI infrastructure.

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Story summary

Marvell Technology agreed to develop AI chips for Google and issue a warrant for 58.97 million shares.
The warrant lets Google purchase shares at $206.58 each, worth $12.18 billion if exercised.
Exercising the warrant could make Google the fifth-largest investor in Marvell.
Marvell could earn $120 billion in revenue through fiscal 2033 if Google meets the targets.
Regulators may examine the deal because it blurs buyer, vendor and investor lines in AI infrastructure.