Marvell Technology shares closed up over 32% following an endorsement from Nvidia CEO Jensen Huang. The stock rose more than 25% in premarket trading.
Huang called Marvell the next trillion-dollar company during a surprise appearance at CEO Matt Murphy’s Computex keynote in Taipei on June 2. He highlighted Marvell’s high-speed connectivity and networking chips as essential for AI data centers.
Nvidia recently invested $2 billion in Marvell to deepen their partnership on AI-centric hardware. Huang noted that connectivity is a crucial element for advancing AI infrastructure as computing problems scale across thousands of processors.