Marvell Technology stock rises on report of potential partnership with Google on AI chips
Marvell Technology (MRVL) stock rose over 4% on Monday following reports of a potential partnership with Alphabet (GOOG, GOOGL) to develop AI chips. The Information reported that the two companies are working on a memory processing unit to complement Google's TPU and another chip for AI models, with design expected to be finalized by next year. Marvell's stock has surged more than 60% year-to-date, outperforming the semiconductor sector.
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Topics: AI chips Google Marvell Technology partnerships semiconductor industry stock price movement