Marvell Technology shares fell 8% to $223.1 in premarket trading on Friday as investors focused on the timing of revenue from its custom-chip deal with Alphabet’s Google. The agreement, secured last week, could generate up to $120 billion in revenue through fiscal 2033 and make Google one of Marvell’s largest shareholders. CEO Matt Murphy said existing custom-revenue targets through fiscal 2028 already included some Google-related revenue, with a much larger contribution expected in fiscal 2029. Marvell raised its fiscal 2027 revenue forecast to roughly $12 billion from about $11.5 billion and its fiscal 2028 target to about $18 billion from about $16.5 billion. At least five brokerages increased their price targets, with a $275 median implying 13.8% upside from Thursday’s close. The stock has nearly tripled this year as Marvell benefits from demand for custom chips and AI infrastructure, although it trades at a premium to Broadcom on forward earnings.