Marvell Technology shares rise 6% following Google’s $12.2 billion chip deal

Aug 19, 2026

AI Summary

Marvell Technology's stock increased by 6% due to a new agreement allowing Google to purchase up to $12.2 billion in shares. This partnership focuses on custom chips for artificial intelligence, with potential purchases extending through the 2033 fiscal year.

Marvell Technology shares surged 6% after a deal with Google was announced, permitting Google to buy up to $12.2 billion in shares at $206.58 each.
The agreement is part of a broader partnership between Marvell and Google on custom chips, specifically targeting products related to the tensor processing unit ecosystem, including AI inference accelerators and network interface controllers.
Previously, Marvell's stock rose in April following reports of a chip deal with Google for AI workloads.
Google and other major tech companies are developing custom silicon chips to reduce reliance on Nvidia's products for AI applications.
Historically, Google has collaborated with Broadcom on custom chips, with an expanded agreement announced in April.
Following the news of the Marvell deal, Broadcom's stock declined by approximately 5%.

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Marvell Technology shares rise 6% following Google’s $12.2 billion chip deal

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