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

Marvell Technology shares rose 6% after announcing a deal allowing Alphabet's Google to purchase up to $12.2 billion in Marvell shares, tied to a custom AI chip partnership. The agreement underscores the growing trend among tech giants to develop custom silicon to reduce dependence on Nvidia.

Marvell pops 6% on AI chip deal that lets Google buy up to $12.2 billion in shares Source: CNBC Technology https://www.cnbc.com/technology/ Google and its competitors have been pursuing custom chips to improve efficiency and reduce reliance on Nvidia /glossary/nvidia .Get AI news in your inbox Daily digest of what matters in AI.