Marvell Technology Inc. (NASDAQ:MRVL) could unlock a major new artificial intelligence revenue opportunity through its expanded partnership with Alphabet Inc.’s (NASDAQ:GOOGL) Google, according to JPMorgan.
Analyst Harlan Sur reiterated an Overweight rating on Marvell. He said the agreement could support upside to Wall Street’s revenue and earnings estimates as Google’s custom AI infrastructure expands.
Marvell’s Google Deal Could Unlock $120 Billion Opportunity
Marvell on Thursday announced an expanded, long-term partnership with Google to develop custom chips that support Google’s Tensor Processing Unit, or TPU, ecosystem.
The programs include an AI inference offload engine, storage controllers, networking chips and memory interface controllers. However, JPMorgan stressed that the agreement is not a win for Google’s core TPU accelerator. Instead, Marvell’s chips will sit alongside and support the TPU.
