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00:02Marvell technology will help develop Google's custom AI chips under a deal that could generate
00:07about $120 billion in revenue through fiscal 2033, according to Reuters.
00:14Google also received the right to buy up to 58.97 million Marvell shares at $206.58 each,
00:22a stake worth about $12.2 billion if fully exercised.
00:26Marvell shares rose nearly 8%, while Broadcom fell more than 5%.
00:31Demand for Google's Tensor processing units has increased as companies seek lower-cost alternatives
00:37to NVIDIA graphics processors and chips tailored for AI inference.
00:42The agreement covers processors used to run AI models, manage data storage, and move information
00:47across networks.
00:48Morningstar analyst William Kerwin called the agreement a major win for Marvell.
00:52For all things money, visit Benzinga.com.
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