Marvell Shares Jump 8% on Google Custom AI Chip Deal Worth Up to $12.2 Billion

Marvell Technology shares surged 8% on August 19 after the company announced a custom AI chip agreement with Google that gives Google the right to purchase up to $12.2 billion worth of Marvell shares. The deal underscores a broader push by Google and its hyperscaler peers to develop proprietary silicon and reduce dependence on Nvidia. Also on August 19, Samsung announced price increases of up to 15% on chips, citing surging AI demand, a move that stands to ripple across customers including Tesla and Alphabet.

The U.S. Commodity Futures Trading Commission separately disclosed it is weighing AI compute futures contracts, with exchanges ICE and CME eyeing the new market, a development that would let investors gain financial exposure to GPU and compute pricing tied to firms such as TSMC and Nvidia. SpaceX also drew attention after a report emerged that it had attempted to acquire Cognition, an AI coding startup, though no deal was confirmed.