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Marvell shares jump 8% after AI chip deal enables Google buying up to $12.2B
The deal also highlights growing efforts by major tech firms to design custom AI chips to improve efficiency and potentially reduce dependence on Nvidia.
Marvell shares rose about 8% after the company announced an AI chip deal tied to Google’s ability to buy a significant amount of Marvell stock, according to CNBC Markets.
The transaction is structured to give Google and its competitors a path to use custom chips to improve efficiency, while aiming to reduce reliance on Nvidia, CNBC World reported.
The announcement underscores the broader competitive push in AI hardware as larger players seek more control over chip performance and supply for their data center needs.