Marvell raises $2B from NVIDIA in strategic convertible preferred stock investment

Filed March 31, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  NVIDIA invested $2 billion cash for 2 million shares of new Series A Convertible Preferred Stock, convertible into 21.8 million common shares at ~$91.84/share—representing ~3% potential dilution to existing shareholders.

  Item 3.02 verify on EDGAR →
• medium

  The preferred stock carries dividend rights equal to common stock on an as-converted basis and votes with common shareholders (except director elections), treating NVIDIA economically like a common shareholder.

  Certificate of Designation verify on EDGAR →
• medium

  NVIDIA can convert the preferred shares at its option after antitrust clearance, or conversion occurs automatically before any sale to Marvell or a non-NVIDIA party, giving NVIDIA control over timing.

  Item 3.02 verify on EDGAR →