Marvell Technology Inc. CEO Matt Murphy said investors may be underestimating the long-term earnings potential of the company’s newly disclosed commercial agreement with Google, part of Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG). The deal could generate up to $120 billion in cumulative revenue over six-and-a-half years if performance milestones are achieved, implying roughly $18 billion in annual revenue at peak. Murphy said much of next year’s revenue is already included in guidance, while the major acceleration would come in 2029 and beyond. He also described the agreement as a broad-based engagement covering inference accelerators, networking interface cards, storage controllers, memory interface controllers, near-memory compute and Marvell’s XPU attach portfolio. Marvell plans to provide a more detailed roadmap through the end of the decade at its upcoming Investor Day, although Murphy did not issue updated long-term revenue targets.