Marvell Stock Soars as Google Partnership Expands

JPMorgan has reaffirmed its Overweight rating on Marvell Technology Inc. (ticker not provided) after the company announced an expanded partnership with Google to develop custom chips and Application-Specific Integrated Circuits (ASICs).

The partnership, which includes the development of AI inference offload engines, silicon storage controllers, and NIC/SmartNIC/DPU-style controllers, could potentially generate up to $120 billion in cumulative revenue over approximately 6.5 years, according to JPMorgan's calculations.

JPMorgan analyst Harlan Sur clarified that the announcement does not represent a core TPU accelerator win, but rather custom silicon programs that sit adjacent to the core TPU chip, supporting the TPU ecosystem.