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Marvell and Google expand custom silicon partnership
Marvell Technology has entered into an expanded commercial agreement with Google to develop custom semiconductor products across a range of programmes attached to Google's TPU ecosystem.
In connection with the deal, Marvell has issued Google a warrant to purchase up to approximately 59 million shares at USD 206.58 per share – a potential stake valued at approximately USD 12.2 billion, according to an SEC filing from Marvell.
The custom silicon programmes covered by the agreement include AI inference accelerators, storage controllers, network interface controllers, memory interface controllers and near-memory compute.
The warrant vests primarily based on cumulative custom product revenue – one tranche vests for every USD 500 million in purchases by Google across 240 tranches, running from Marvell's third quarter of fiscal 2027 through the end of fiscal 2033. The warrant is exercisable until August 18, 2033.
