Commenting on Marvell’s (MRVL) new strategic partnership with AWS (AMZN), Oppenheimer analyst Rick Schafer notes that the former is expanding its relationship with AWS through a 5-year deal to supply DC custom AI compute ASICs and connectivity solutions. In conjunction, AWS was granted a warrant to acquire 4.2M shares of MRVL for $87.77 share, expiring Dec 2, 2031. The firm views the news bullishly for Marvell as it helps alleviate persistent speculation of the company’s share loss to Alchip and/or others. Oppenheimer reiterates an Outperform rating on Marvell.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
