Marvell Shares Slide on Delayed Revenue from Google Custom-Chip Deal

Marvell Technology Inc., the developer of custom silicon and connectivity solutions, has seen its shares drop 10.28% to $216.62 as investors focus on the timeline for revenue from Google's custom-chip deal.

The company reported record earnings, with Q2 revenue climbing 37% to an all-time high of $2.74 billion, driven by data-center sales totaling $2.17 billion and accounting for 79% of overall revenue.

While the deal has the potential to bring in $120 billion by the end of fiscal 2033, its impact is not expected until fiscal 2029, according to Chief Executive Matt Murphy.