Marvell Technology Group is trading up 10.3% now at $235.70 after announcing an expanded partnership with Google to develop custom AI chips, including inference accelerators and storage controllers.
- Marvell issued Google a warrant to purchase up to 58,970,907 shares at $206.58, potentially worth approximately $12.18 billion.
- The company-specific catalyst is outweighing broad semiconductor weakness and elevated bond yields.