--- title: Marvell hands Google a $12.2bn share option in a... description: Marvell Technology has granted Google a warrant to buy up to $12.2 billion of its shares, vesting in tranches as Google purchases custom chips tied to Google's... canonical: https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Marvell hands Google a $12.2bn share option in a custom-chip deal | daily.dev og:description: Marvell Technology has granted Google a warrant to buy up to $12.2 billion of its shares, vesting in tranches as Google purchases custom chips tied to Google's... og:url: https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb og:image: https://api.daily.dev/og/posts/WktBMrosb.png og:image:alt: Marvell hands Google a $12.2bn share option in a custom-chip deal og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Marvell hands Google a $12.2bn share option in a custom-chip deal **[The Next Web](https://daily.dev/sources/tnw)** · 5 min read · 1 upvotes · 0 comments ## Summary Marvell Technology has granted Google a warrant to buy up to $12.2 billion of its shares, vesting in tranches as Google purchases custom chips tied to Google's TPU ecosystem, including AI inference accelerators and networking/storage controllers. The purchasing targets run through Marvell's 2033 fiscal year and could bring Marvell about $120 billion in sales, potentially making Google its fifth-largest investor. Marvell shares jumped as much as 14 percent while Broadcom, the incumbent custom-chip supplier for Google, fell about 5 percent. Analysts framed the deal as adding a second major supplier alongside Broadcom rather than displacing it. The arrangement fits a broader pattern of 'circular' AI deals tying chipmaker sales to customer stock, echoing recent Nvidia-OpenAI and AMD-OpenAI arrangements that have raised bubble concerns among investors. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What is the Marvell-Google stock warrant deal worth and how does it work? Marvell granted Google a warrant to buy up to 58,970,907 shares at $206.58 each, worth about $12.2 billion if fully exercised. Google does not pay cash upfront; instead, each $500 million of custom chip purchases unlocks another tranche of the warrant, with purchasing targets running through Marvell's 2033 fiscal year, potentially generating roughly $120 billion in chip sales for Marvell. _Anyone tracking AI supply chain deals can follow how chipmaker-customer arrangements evolve via daily.dev._ ### What kind of chips is Marvell supplying to Google under this deal? Marvell is supplying components that attach to Google's tensor processing unit ecosystem rather than the TPUs themselves, including AI inference accelerators and controllers for storage and networking. TPUs are Google's in-house chips used to build, train and run AI models, and this deal covers the surrounding hardware that supports that ecosystem. _Engineers evaluating custom silicon strategies can dig into supplier ecosystem shifts on daily.dev._ ### How did the market react to the Marvell-Google chip deal announcement? Marvell shares rose about 8 percent after climbing as much as 14 percent earlier in the day, while Broadcom, the incumbent custom-chip supplier to Google, fell around 5 percent as investors weighed a new rival for Google's orders. Alphabet stock was little changed, and analyst William Kerwin called it a big win for Marvell rather than a competitive displacement of Broadcom. _Investors weighing chipmaker rivalries can track market reactions to deals like this on daily.dev._ ## Similar posts on daily.dev - [Google in talks with Marvell Technology to build new AI inference chips alongside Broadcom TPU programme](https://daily.dev/posts/google-in-talks-with-marvell-technology-to-build-new-ai-inference-chips-alongside-broadcom-tpu-progr-fmuphzml3) · The Next Web · 0 upvotes · 0 comments - [Google assembles four-partner chip supply chain with Broadcom, MediaTek, Marvell to challenge Nvidia in inference](https://daily.dev/posts/google-assembles-four-partner-chip-supply-chain-with-broadcom-mediatek-marvell-to-challenge-nvidia-tfqwxgwvi) · The Next Web · 0 upvotes · 0 comments --- Tags: [#google](https://daily.dev/tags/google), [#nvidia](https://daily.dev/tags/nvidia) [View this post on daily.dev](https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Marvell hands Google a $12.2bn share option in a custom-chip deal","url":"https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb"},"datePublished":"2026-08-19T17:55:43.762Z","dateModified":"2026-09-13T21:23:26.575Z","description":"Marvell Technology has granted Google a warrant to buy up to $12.2 billion of its shares, vesting in tranches as Google purchases custom chips tied to Google's...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/46a38b39b992587477a4a01168b00796?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/46a38b39b992587477a4a01168b00796?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":1},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"google,nvidia","timeRequired":"PT5M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"Marvell hands Google a $12.2bn share option in a custom-chip deal"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/marvell-hands-google-a-12-2bn-share-option-in-a-custom-chip-deal-wktbmrosb#faq","mainEntity":[{"@type":"Question","name":"What is the Marvell-Google stock warrant deal worth and how does it work?","acceptedAnswer":{"@type":"Answer","text":"Marvell granted Google a warrant to buy up to 58,970,907 shares at $206.58 each, worth about $12.2 billion if fully exercised. Google does not pay cash upfront; instead, each $500 million of custom chip purchases unlocks another tranche of the warrant, with purchasing targets running through Marvell's 2033 fiscal year, potentially generating roughly $120 billion in chip sales for Marvell. Anyone tracking AI supply chain deals can follow how chipmaker-customer arrangements evolve via daily.dev."}},{"@type":"Question","name":"What kind of chips is Marvell supplying to Google under this deal?","acceptedAnswer":{"@type":"Answer","text":"Marvell is supplying components that attach to Google's tensor processing unit ecosystem rather than the TPUs themselves, including AI inference accelerators and controllers for storage and networking. TPUs are Google's in-house chips used to build, train and run AI models, and this deal covers the surrounding hardware that supports that ecosystem. 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