Marvell Stock Soars After $12B Deal with Google

Marvell Technology (MRVL) has seen its stock rise significantly after announcing a deal with Google parent Alphabet to buy $12.20 billion worth of shares in the chipmaker.

The expanded partnership builds on an existing agreement for custom chips and will cover products tied to the tensor processing unit ecosystem, including AI inference accelerators and storage and network interface controllers.

Analysts are optimistic about Marvell's future earnings, with EPS projected to surge 42.1% annually to $3.07 in fiscal 2027 and 66.5% growth to $5.11 in fiscal 2028.

Wall Street analysts have a consensus 'Strong Buy' rating on MRVL stock, with a consensus price target of $269.31 representing a 15% upside from current levels.