MARVELL JUMPS 6 % AS GF SECURITIES SAYS GOOGLE CHIP DELAY WONT DENT ITS POSITION ; BROADCOM RISES 3 %

What happened: Marvell jumped after GF Securities analyst Jeff Pu said a reported delay in Google's next TPU does not change Marvell's medium- to long-term position in Google's chip supply chain. Why it matters: The note steadied views on Marvell, and Google's warrant and broader custom silicon partnership extend the relationship beyond one delayed chip. Marvell still must convert its custom programs into reported revenue, with gross margin pressure flagged from custom product mix.

Marvell jumped after GF Securities analyst Jeff Pu said a reported delay in Google's next TPU does not change Marvell's medium- to long-term position in Google's chip supply chain.

The note steadied views on Marvell, and Google's warrant and broader custom silicon partnership extend the relationship beyond one delayed chip. Marvell still must convert its custom programs into reported revenue, with gross margin pressure flagged from custom product mix.