Advanced Micro Devices Inc. (NASDAQ:AMD) disclosed a new position in Marvell Technology Inc. (NASDAQ:MRVL) in its latest 13F filing, revealing a stake that appears to have already delivered a sharp paper gain.

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AMD Bets on MRVL

According to the filing, AMD reported owning 65,516 shares of Marvell Technology, valued at $6.49 million at the time of the filing. That works out to an implied price of roughly $99 per share for the position.

If Marvell shares are now up about 66% from AMD's implied entry price, the stake would be worth roughly $10.8 million today. That would put AMD's unrealized gain at approximately $4.3 million, based on the disclosed share count.

The Marvell position was one of four equity holdings listed in AMD's 13F. The filing also showed 5.71 million shares of AI-powered drug discovery firm Absci Corp. (NASDAQ:ABSI), ...