MediaTek's stock plummeted 3.8% to NT$3,700 on Thursday following a surprise announcement by Google that it will partner with Marvell for custom chip development. The deal, made on Wednesday, signals Google's preference for Marvell as its go-to partner for custom chip development, potentially squeezing MediaTek out of the market. The partnership also secures future chip purchases for Google with Marvell, reducing the likelihood of MediaTek winning a significant share of the AI giant's business. MediaTek's decline was largely overshadowed by broader gains in Asian tech stocks, which were boosted by a decline in US Treasury yields.
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