Marvell lets Google buy up to $12.2bn of shares in chip deal

Marvell Technology has agreed to allow Alphabet's Google to purchase up to $12.2 billion of its shares in exchange for chips. The arrangement highlights continued strong demand for AI-related semiconductor capacity.

The news comes as easier Treasury conditions and lower long-term yields supported risk assets, adding to the positive tone around technology and semiconductor names.

The agreement reinforces closer ties between large cloud providers and chip suppliers as AI infrastructure spending remains elevated.