Marvell stock surges after chipmaker hands Google a $12.2 billion stake option in new AI chip deal

The warrant gives Google the option to buy up to 58.97 million Marvell shares, tied largely to purchasing targets through fiscal 2033

Marvell Technology said on Wednesday it has issued Alphabet’s Google a warrant to buy a stake worth about US$12.18 billion as part of a deal to help develop custom chips for the search giant.

Marvell gives Google option to buy $12.2 billion stake in custom chip deal  Reuters

Google will also get the option to purchase about $12 billion worth of Marvell’s stock.

Aug 19 : Marvell Technology said on Wednesday it has issued Alphabet's Google a warrant to buy a stake worth about $12.18 billion as part of a deal to help develop custom chips for the search giant.Shares of the custom chipmaker jumped more than 11 per cent in premarket trading, while larger rival Broadcom was down ove