Business

AI Chip Deal Boosts Marvell

Updated 2026-08-19 15:25 UTC 1 source Positive

Marvell's stock surged 6% after Google agreed to purchase up to $12.2 billion in shares of custom AI chips from the company, part of a broader trend among tech giants to reduce reliance on Nvidia.

Coverage timeline — 2 articles

CNBC

Marvell pops 6% on AI chip deal that lets Google buy up to $12.2 billion in shares

Google and its competitors have been pursuing custom chips to improve efficiency and reduce reliance on Nvidia.

2026-08-19 15:09 UTC

CNBC

We're booking a five-fold profit on one of drug stock's rally to record highs

This trim doesn't reflect any change in our positive long-term view.

2026-08-19 15:14 UTC