Marvell pops 6% on AI chip deal that lets Google buy up to $12.2 billion in shares

Google entered into an agreement with Marvell Technology to purchase up to $12.2 billion in shares, according to the company announcement. The deal allows Google to acquire Marvell's custom semiconductor technology. Marvell's stock price increased 6% following the announcement. Google and other technology companies have been developing custom chips to reduce dependence on Nvidia processors.

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