By placing chips orders, OpenAI/Meta each will get 10% almost free AMD shares but Google will get 6.6% costly Marvell shares

On July 29, 2026, Marvell Technology and Google entered into a commercial agreement relating to the Company’s development of ASIC chips (AI inference accelerators, storage/network interface/memory interface controllers, and near-memory compute) to Google. In connection with this collaboration, on August 18, 2026, the Company issued to Google a warrant to purchase up to an aggregate of 58,970,907 shares of Marvell or 6.6% of current diluted shares at an exercise price of $206.58 per share till fiscal year 2033 with 6 years, 24 quarters, 240 equal tranches, US$5bn ASIC orders per quarter, US$20bn per year, and US$120bn in total 6 years.

客戶：Google for Marvell; Open AI, Meta for AMD

稀釋股份 Dilution: 6.6% for Marvell; 10% each for AMD, 20% total for AMD

認股權證每股轉換價格：對谷歌而言Marvell 股票轉換價格是206.58美元，對OpenAI, Meta 而言AMD股票轉換價格是 1美元。