🔴 Broadcom is trading 4.3% down today after Marvell announced an expanded Google custom-AI-chip partnership

Broadcom is trading 4.3% down at $363.63 after Marvell announced an expanded Google custom-AI-chip partnership, including a potential $12.2 billion equity stake.

• Reuters reported Broadcom was down more than 3% in premarket trading as Marvell shares jumped, suggesting competitive concerns are weighing on the stock.
• The decline is also occurring amid a broader semiconductor selloff tied to elevated Treasury yields, geopolitical uncertainty, and profit-taking in AI-related stocks.