Marvell Partners with Google on AI Chips
Marvell Technology will develop custom AI chips for Google in a deal offering the search giant a $12.2 billion stake option. Marvell shares rose following the announcement while Broadcom shares declined.
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Marvell Technology will help develop custom AI chips for Alphabet Inc-Cl A and offered a warrant to buy a $12.2 billion stake. The deal underscores Big Tech's push to secure dedicated hardware suppliers for massive artificial intelligence infrastructure. Marvell shares jumped 8% in Wednesday afternoon trading.
