[FLASH] Marvell grants Google the right to buy up to $12.2bn of its shares in exchange for chip purchases
Marvell gave Alphabet warrants over roughly 59 million shares at $206.58, with about 1.4 million vesting in year one and the remainder in tranches tied to each $500m of chips Google buys; Marvell will build AI inference accelerators, storage, networking, memory-interface controllers and near-memory compute for Google, a programme reported as worth roughly $120bn of revenue through fiscal 2033 if targets are met. It extends customer-equity financing from Nvidia's deals into the custom-silicon layer, with the buyer taking the equity upside this time. Marvell rose 9.85% on 08-19 and a further 5.79% on 08-20 in the desk price frame, while Broadcom fell 4.61% on 08-19 - watch whether custom silicon keeps taking share from merchant accelerators.