Marvell gives Google option to buy $12.2 billion stake in custom AI chip deal
Marvell Technology will help develop Google’s in-demand custom chips and has offered the search giant the right to buy a potential $12.2 billion stake, the latest deal in which Big Tech is investing in the suppliers powering its AI build-out.
Shares of the chipmaker jumped nearly 8% as the deal marked a major vote of confidence from a top cloud-computing provider and could bring roughly $120 billion in revenue through fiscal 2033, if Google hits the targets its stake option depends on.
