Google Ties Stock Options to Marvell Chip Supply, Bitcoin Surges Past $68,000

Google has tied its stock options to Marvell's supply of custom chips, procuring up to 58.97 million shares at $206.58 per share with an exercise price that can be exercised no later than August 2033.

If all the warrants are exercised, Google would have access to approximately $12.2 billion at the exercise price, though this does not mean it has already paid or locked in all future orders.

The procurement scale and vendor equity incentives are written into the same arrangement, which may strengthen long-term cooperation between the two parties and increase the opportunity cost of exiting the partnership.