Google Invests Big in Marvell Technology With $12 Billion Warrant Deal

Marvell Technology (MRVL) and Google have entered into a custom semiconductor agreement that includes a $12.2 billion warrant for up to 58.97 million shares.

The deal, announced on July 29, requires Marvell to deliver chips to Google, with the warrant unlocking in tranches tied to purchasing milestones of $500 million in custom products revenue.

Marvell guided for a 40% overall revenue growth in fiscal 2027 to nearly $11.5 billion, and its first-quarter data center revenue hit a record $1.83 billion.