Where we stand on Broadcom as shares dip on Google's new chip deal with Marvell

Broadcom is trading under pressure after Google signed a deal with rival Marvell Technology for custom silicon tied to Google’s TPU ecosystem. Marvell said in a Wednesday filing that its partnership covers a range of custom-chip programs, including components related to memory and storage, and it issued stock warrants to Google worth about $12.2 billion. The move reinforces the bear argument that Google may expand beyond Broadcom for future AI compute systems. Broadcom shares fell 5% on Wednesday, tracking weakness in the broader chip complex, while Marvell rose about 7%.