Marvell (MRVL) Jumps 13% on Google TPU Deal: The $120 Billion Number Buried in the Warrant

Wed, 19 Aug 2026 00:00:00 +0000

Marvell disclosed a commercial agreement with Google on Wednesday and the stock opened 13% higher at $243.66, extending a year-to-date advance that already ran above 150%. The headline number circulating is $12.2 billion — the value of a warrant Marvell issued to Google covering 58,970,907 shares at an exercise price of $206.58. That figure is the least informative thing in the filing. The number that matters is $120 billion, and it is not stated anywhere in the announcement. It has to be derived from the vesting schedule, and once derived it tells you exactly how large Marvell believes this relationship becomes.

Broadcom (AVGO) Falls 5% on a $370 Billion AI Debt Estimate: The $29 Billion in the 10-Q Is the Real Exposure

Sat, 15 Aug 2026 00:00:00 +0000

Broadcom traded down more than 5% Friday, touching roughly $390 after opening above $411, shedding about $102 billion of market value across 4.76 billion shares. The trigger was not a guidance cut, a customer loss, or a downgrade. It was an estimate. Bank of America’s Tom Curcuruto calculated that the chip-financing vehicle standing behind Broadcom’s AI expansion could carry $370 billion of senior debt by mid-2029 at 20-gigawatt scale, including roughly $150 billion of new issuance in 2027 alone, assuming the platform grows at about two gigawatts per quarter. The number is enormous, it is not Broadcom’s debt, and the market sold the stock as though it were.

AVGO on k4i.com

Marvell (MRVL) Jumps 13% on Google TPU Deal: The $120 Billion Number Buried in the Warrant

Broadcom (AVGO) Falls 5% on a $370 Billion AI Debt Estimate: The $29 Billion in the 10-Q Is the Real Exposure