Marvell Shares Gain on Reported Google AI Chip Partnership
Marvell shares rose 7% on reports of a deal with Google to develop new AI chips. The partnership aims to reduce dependence on external hardware suppliers.
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Shares of MARVELL TECHNOLOGY INC climbed 7% in premarket trading on Monday following reports that ALPHABET INC-CL A is in negotiations with the chip designer to create two new processors for artificial intelligence. The potential partnership could involve a memory processing unit and a new version of the Tensor Processing Unit (TPU) intended to run AI models more efficiently, according to sources familiar with the matter.
