Marvell Stock Jumps on Google Chip Deal
Marvell Technology Group Inc. (MRVL) jumped in trading on news of a major investment deal with Google, which has agreed to buy chips from Marvell for use in its data centers.
The partnership is significant as it marks one of the largest deals between a semiconductor maker and a cloud giant, signaling a shift towards customized chips designed specifically for cloud computing.
Marvell's stock price rose by 5.2% in morning trading on Monday, following the announcement of the deal, which is expected to provide a boost to the company's revenue.