Skip to playerSkip to main content
Benzinga
  • 11 hours ago
Marvell Technology shares rose nearly 6% after reports that Google plans to use the company for two new AI chips, potentially including a tensor processing unit and memory processing unit. Broadcom shares fell ~2% on the news. Google recently extended its Broadcom partnership through 2031. Nvidia announced a $2B investment in Marvell in March. Marvell stock is up nearly 50% in April after strong earnings and guidance.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street
00:02Shares of Marvel technology rose nearly 6% Monday after a report said Google plans to
00:07use the company for two new artificial intelligence chips, according to CNBC.
00:11Google has relied on Broadcom Arrival to Marvel to design its in-house tensor processing units.
00:17Broadcom shares fell nearly 2% after the report.
00:20Google may include a tensor processing unit and a memory processing unit in the deal,
00:24according to a report by The Information.
00:26Google and Marvel did not respond to CNBC's requests for comment.
00:30Marvel and Broadcom provide back-end chip design services before manufacturing to companies like TSMC.
00:36Google recently extended its Broadcom partnership through 2031.
00:40Marvel stock rose more than 20% in March and is up nearly 50% in April after strong earnings
00:46and guidance.
00:47NVIDIA also announced a $2 billion investment in Marvel in March.
00:50For all things money, visit Benzinga.com.
Comments