Marvell issues Google warrant under custom chip agreement
Marvell issued Google a warrant to purchase up to 58,970,907 Marvell common shares at $206.58 per share under a custom-semiconductor commercial agreement.
MRVL issued Google a warrant to purchase up to 58,970,907 shares at $206.58 per share under a custom-semiconductor commercial agreement.
The Details: • Commercial agreement: Marvell and Google entered an agreement covering development of custom semiconductor products for Google. • Program scope: The expanded partnership includes AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory compute. • Warrant terms: Google may purchase up to 58,970,907 Marvell common shares at an exercise price of $206.58 per share. • Revenue linkage: The supplied release ties warrant vesting to $500M custom AI-chip revenue tranches through fiscal 2033.