Marvell sells $2 billion of convertible preferred stock to NVIDIA in AI partnership
Marvell completed the sale of 2,000,000 shares of Series A Convertible Preferred Stock to NVIDIA for $2 billion in cash on March 31, 2026, under a securities purchase agreement. The preferred stock is convertible into a maximum of 21,778,000 common shares, which would increase the share count if converted, and the companies announced a related partnership on NVLink Fusion and silicon photonics.
Key points
- Aggregate purchase price of $2,000,000,000 paid in cash by NVIDIA for 2,000,000 Series A Preferred shares
- Initial conversion price of approximately $91.8355 per common share, with a maximum of 21,778,000 common shares issuable on conversion
- Each preferred share has a stated value of $1,000; holders have no preemptive or redemption rights
- Certificate of Designation filed with the Delaware Secretary of State on March 31, 2026; the shares were sold in a private placement
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.