On August 19, Marvell Technology rose 10.07% in regular trading, trading at $241.28/share, with turnover of $19.76 billion. The surge was driven by disclosure of a custom semiconductor commercial agreement signed with Google on July 29.

According to SEC filings, the agreement covers AI, storage, and networking chip domains, involving joint development of two chips including a TPU and a memory processing unit. Concurrently, Marvell issued warrants to Google granting the right to purchase up to 58.97 million shares at an exercise price of $206.58 per share, corresponding to a maximum scale of approximately $12.2 billion. In the first year, approximately 136,000 warrants will vest in quarterly tranches. Additionally, TD Cowen raised its price target on Marvell to $225 from $200, citing confidence in AI custom chip demand prospects.

Within the Semiconductors sector, Micron Technology up 1.73%, SK hynix up 4.74%, Broadcom down 1.86%, NVIDIA up 0.98%, Intel up 0.81%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)