Marvell rises on custom chip deal granting Google $12.2 billion stock warrant
19/08/2026 13:46
BUZZ-Marvell rises on custom chip deal granting Google $12.2 billion stock warrant ** Shares of chip firm Marvell Technology MRVL.O rise 11.9% to $241.88 premarket
** MRVL grants Google GOOGL.O a warrant to buy a stake worth about $12.18 billion as part of a deal to help develop custom chips for the search giant
** Under the deal, the warrant grants Google the right to purchase up to 58.97 million shares of Marvell common stock at an exercise price of $206.58 per share
** Shares of bigger chip rival Broadcom AVGO.O fall 4.6% to $362.61 before the bell
** GOOGL shares down 0.5% at $342.50 premarket
** As of last close, MRVL has more than doubled this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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