Marvell Issues Alphabet a $12.2B Warrant Tied to Custom Silicon Revenue
Marvell issued Google a warrant worth up to $12.2 billion for roughly 7% of its shares, but the equity vests only as Google meets revenue milestones through product purchases. The warrant vests in $500 million revenue increments through fiscal 2033, linking Google’s reward to Marvell’s custom-silicon growth, with projections of over $2 billion by fiscal 2029.