Marvell Technology's stock rose nearly 6% after reports that Google will use Marvell to design two new AI chips, including a Tensor Processing Unit (TPU) and a memory processing unit. This marks a shift as Google previously relied on Broadcom for its TPU designs. Despite this, Google's partnership with Broadcom remains strong, recently extended through 2031. Marvell has benefited from rising AI demand, including a $2 billion investment from Nvidia in March, and its shares have surged over 50% this year. The move highlights growing competition in AI chip design as tech giants seek to diversify their suppliers and secure advanced silicon for AI workloads.
The FTSE 100 index fell slightly, dragged down by mining stocks reacting to China's slower GDP growth of 4.3% in Q2, its weakest in three years. Despite this, oil prices remained steady amid US-Iran tensions. PayPal shares jumped over 14% following r...
The Goldman Sachs Future Tech Leaders Equity ETF (GTEK) has delivered a 48.9% return year-to-date, nearly doubling the 25% return of the Vanguard Information Technology ETF (VGT). Unlike VGT, which heavily invests in mega-cap tech giants like Nvidia,...
