On August 19, Marvell Technology and Google revealed an expansion in their collaborative efforts in chip development. As part of this agreement, Marvell has granted Google a warrant, enabling the latter to acquire up to 58,970,907 shares of Marvell stock at a price of $206.58 per share, with the total value potentially reaching $12.2 billion. According to the terms of the agreement, during the first year following its signing, Google will be entitled to nearly 1.4 million warrant shares each quarter. The remaining shares will be vested in stages, contingent upon "discretionary purchases" made from the third quarter of Marvell Technology's fiscal year 2027 through to the end of fiscal year 2033. Each batch of shares will vest once $500 million in revenue is generated from products developed through their joint efforts. The two companies will work together in the areas of AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory computing.