Marvell gives Google $12.2 billion stake in custom Ai chip deal, stock surges

Marvell Technology has given Google the right to purchase up to 58.97 million of its shares, a position said to be worth about $12.2 billion if fully exercised, with most of the stake being related to Google’s spending on custom chips until fiscal year 2033. The deal deepens Google’s push to build its own AI...