Marvell Gives Google Option to Buy $12.2B Stake in Custom AI Chip Deal
Marvell’s deal gave Google a warrant to buy up to 58.97 million Marvell shares at $206.58 each, worth $12.18 billion if fully exercised, making Google the fifth-largest investor. The option reflects rising demand for custom AI chips such as Google’s TPUs, though it also highlights growing interlinked relationships in the AI chip supply chain.