Marvell Technology has granted Google the right to purchase nearly 59 million of its shares at $206.58 each, a warrant whose vesting depends on revenue generated from Marvell’s custom silicon chips. This agreement far exceeds the one signed with Amazon Web Services in December 2024, representing more than 14 times the share count of the previous warrant. Meanwhile, Google and Marvell are in advanced discussions to co-develop two new types of AI chips, which caused Marvell’s stock to rise approximately 6% in mid-April 2026. The semiconductor group now has warrant-based partnerships with two of the three largest cloud infrastructure providers and also supplies custom ASICs to Microsoft. At this stage, no official SEC filing has corroborated the exact figures of this agreement.
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