On August 19, Marvell Technology announced a business agreement with Google to develop custom semiconductor products for Google. The collaboration covers a range of custom chip projects related to the TPU ecosystem, including AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory computing. To advance the collaboration, Marvell issued warrants to Google on August 18, allowing Google to purchase up to 58.97 million shares of the company's common stock at a price of $206.58 per share.