Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.3%), and DJIA (flat) are trading in a relatively tight range this morning.

Marvell (MRVL 145.43, +5.74, +4.11%) and Alphabet (GOOG 337.50, -1.90, -0.56%) are in focus following a report from The Information that the two companies are partnering to develop two new tensor processing units (TPUs) aimed at competing with NVIDIA's (NVDA 199.34, -2.34, -1.16%) dominant AI GPUs, with plans to finalize the chip designs by next year.

The initiative underscores Alphabet's push toward vertical integration in AI infrastructure, leveraging Marvell's custom silicon expertise to design workload-specific accelerators. This effort reflects a strategic pivot to reduce dependence on NVIDIA while optimizing performance per watt and total cost of ownership at hyperscale.

Alphabet is one of the better-performing "magnificent seven" names this morning, as Apple (AAPL 274.09, +3.86, +1.43%) is the only stock in the group that trades higher.