Marvell Technology Announces Potential Contracts with Alphabet for AI Chip Development
Marvell Technology's stock is rising due to reports of potential contracts with Alphabet for the development of two new AI chips. The news has driven Marvell's stock up by 6.5% as of 3:40 p.m. ET, despite a broader decline in tech stocks. The company's stock has gained approximately 75% this year.
Topics: AI chips Alphabet contract development Marvell Technology semiconductor industry