By Daniel Sparks, The Motley Fool
Publication Date: 2026-08-24 02:46:00
Marvell Technology (NASDAQ:MRVL) disclosed an expanded custom chip agreement with Google on Aug. 19, complete with a warrant tied to as much as $120 billion of future purchases — and investors in Broadcom (NASDAQ:AVGO) treated the news as their problem. Broadcom, which designs the in-house TPU chips of Google parent Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), saw its shares fall about 5% that morning.
The logic of the selling was straightforward. Google, arguably the most important customer in Broadcom’s custom artificial intelligence (AI) chip business, is deepening its relationship with Broadcom’s most direct rival.
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But Broadcom has faced this kind of headline before — a…
