Google Wins Right to Buy Up to $12.2 Billion Marvell Shares

Marvell Technology Inc., a leading semiconductor company, has agreed to grant Alphabet Inc.'s Google the right to buy up to $12.2 billion of its shares in exchange for purchasing chips.

The agreement, made public in a regulatory filing on August 19, 2026, gives Google the option to purchase nearly 59 million Marvell shares at a price of $206.58 per share.

Of these warrant shares, nearly 1.4 million will vest in the first year of the deal, while the rest will be released over time in tranches tied to every $500 million worth of chips that Google buys from Marvell.