Marvell Technology Group's stock initially rose 3.3% on reports it was in talks with Google to develop custom AI chips, including a memory processing unit and a TPU for AI inference. However, JPMorgan clarified that Google has not awarded Marvell the TPU business, as Alphabet continues to work with multiple semiconductor partners, with Broadcom still leading in TPU design. This dispute highlights the uncertainty in the semiconductor industry about which companies will benefit from growing AI chip investments by hyperscale cloud providers. Analysts see potential revenue growth for Marvell starting in 2027 if such collaborations materialize.
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,...
