Google expands Marvell AI chip deal with warrant for up to $12.2 billion in shares

Google has struck an expanded custom AI chip partnership with Marvell that includes a warrant allowing Alphabet’s Google to buy up to about $12.2 billion of Marvell shares, tying the investment opportunity to future chip purchases. The deal deepens Google’s effort to secure specialized hardware for its AI systems, including components linked to its Tensor Processing Unit ecosystem such as inference accelerators, storage controllers and networking parts. Marvell said the arrangement could make Google one of its biggest investors if fully exercised, and the announcement sent Marvell shares sharply higher. The agreement matters because it underscores how major tech companies are locking in supply and financing for the chips needed to power their AI expansion.