Marvell pops on report it will help Google with custom AI chips. Broadcom shares sink

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Shares of Marvell Technology gained nearly 6% on Monday amid reports that Google will use the chip design firm for two new chips to power artificial intelligence workloads.

Until now, Google has relied on Marvell rival Broadcom for the design of its in-house Tensor Processing Units, or TPUs. Broadcom shares fell nearly 2% Monday following the report by The Information.

The potential deal between Google and Marvell could include a TPU as well as a memory processing unit, The Information reported on Sunday. Google and Marvell did not immediately reply to requests for comment.

Both Marvell and Broadcom help their customers translate chip designs into silicon, providing back-end support before the processors are sent off to be manufactured at huge fabrication plants by companies like Taiwan Semiconductor Manufacturing Company.