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Against the backdrop of accelerating demand for alternatives to Nvidia's graphics processors, the custom AI silicon market is drawing its battle lines.
Marvell Technology announced August 19 that it will develop chips for Google's tensor processing unit ecosystem and has given the tech giant a warrant to acquire up to 58.97 million Marvell shares at $206.58 apiece.
If fully exercised, that position would be worth roughly $12.18 billion, according to Reuters calculations. Warrant structure The deal ties Google's potential ownership directly to purchasing commitments.
Most of the warrant becomes exercisable only if Google meets agreed buying targets through fiscal 2033, meaning the size of any eventual stake is a function of how much it actually spends with Marvell over that span.
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