Shares of Marvell rose sharply on August 19, 2026, following an AI chip deal that lets Google buy up to $12.2 billion in the company's stock, according to CNBC.
Key facts
- Marvell's stock rose as much as 10% on August 19, 2026, according to CNBC.
- The move followed an AI chip deal involving Google.
- The deal lets Google buy up to $12.2 billion in Marvell shares.
- Google and rivals have been pursuing custom chips to cut reliance on Nvidia.
Marvell shares rose sharply on August 19, 2026, after news of an artificial intelligence chip deal that allows Google to buy up to $12.2 billion in the company’s shares, according to CNBC.
The size of the stock gain grew as the trading day progressed. CNBC reported the stock up 6% earlier in the day, then 8%, and later as much as 10% by the afternoon.
The reports centered on a deal tied to AI chips, with the arrangement giving Google the ability to purchase up to $12.2 billion worth of Marvell stock.
According to CNBC, Google and its competitors have been pursuing custom chips to improve efficiency and reduce their reliance on Nvidia, a dynamic that has shaped much of the recent activity across the AI hardware market.
The steadily rising share price through the day reflected investor interest in the tie-up between Marvell and one of the largest technology companies pursuing its own chip strategy.
Beyond the details reported by CNBC, further terms of the deal were not specified in the available sources.
Why it matters
Major technology companies are racing to develop custom AI chips to lower costs and lessen their dependence on Nvidia. A deal linking Marvell to Google underscores how central chip supply has become to the AI buildout and how strongly investors respond to such partnerships.
Frequently asked questions
How much did Marvell's stock rise?
According to CNBC, Marvell's stock rose as much as 10% on August 19, 2026, after climbing 6% and 8% earlier in the day.
What can Google do under the deal?
CNBC reported that the AI chip deal lets Google buy up to $12.2 billion in Marvell shares.
Why are companies like Google pursuing custom chips?
According to CNBC, Google and its competitors are pursuing custom chips to improve efficiency and reduce their reliance on Nvidia.