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Marvell Technology entered a commercial agreement with Google LLC to develop custom semiconductor products for the TPU…
MRVLMarvell Technology, Inc.
Marvell Technology entered a commercial agreement with Google LLC to develop custom semiconductor products for the TPU ecosystem, including AI inference accelerators and storage controllers. In connection with this partnership, Marvell issued a warrant to purchase up to 58,970,907 shares of common stock at an exercise price of $206.58 per share. The warrant vests based on discretionary purchases by Google, with one tranche vesting for each $500 million in Custom Products revenue from fiscal 2027 through fiscal 2033. Marvell Technology operates in the semiconductor industry, designing and manufacturing integrated circuits.