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Marvell Signs AI Chip Supply Deal With Google Tied to Equity Rights Worth Up to $12.2 Billion
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News EditorMarvell has agreed to give Google the right to buy nearly 59 million shares of Marvell stock at $206.58 per share, with the deal valued at up to about $12.2 billion. About 1.4 million shares will vest in the first year. The rest will vest in batches as Google buys $500 million of specified custom Marvell chips each time. The chips are intended to support Google TPU. PANews reported the terms on Aug. 19.
Marvell has agreed to grant Google the right to buy nearly 59 million shares of its stock at $206.58 per share, in a deal that could reach about $12.2 billion.
PANews reported on Aug. 19 that roughly 1.4 million shares will vest in the first year. The remaining warrants will vest in stages each time Google purchases $500 million worth of specified custom Marvell chips. Those chips are intended to support Google TPU.
The arrangement links chip purchases with equity rights, setting the terms around Google’s buying of Marvell’s custom AI hardware.
This article is for market information only and does not constitute investment advice.
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