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Wajeeh Khan

MRVL Stock Alert: What to Know as Marvell Technology Expands Chip Deal With Google

Marvell MRVL Google Marvell Technology

Marvell (MRVL) shares pushed higher on Wednesday after the semiconductor firm announced an expanded multi-year commercial agreement with Alphabet's (GOOG) (GOOGL) Google. In its press release, MRVL said it has issued GOOGL warrants to purchase up to 58.97 million of its shares valued at over $12 billion, tying equity vesting directly to future custom chip purchases.

Despite today’s gains, Marvell stock is down more than 25% versus its year-to-date high.

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