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المشهد العربي
Marvel Tech shares climb on Google deal
Marvel Technology's stock rose by 10% to reach $237.66 after expanding its partnership with Google to develop chips that include AI accelerators, storage controllers, and networking units. The agreement includes giving Google the right to purchase approximately 59 million shares of Marvel at $206.58 per share, with the allocation process gradually set until 2033 based on revenue from the sold chip products. The expansion aims to strengthen the company's capabilities in the AI chip sector and comes amid a growth trajectory for the company's stock since the beginning of the year, where its gains have exceeded 177%.
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