Marvell Technology surges after Nvidia's Huang calls it 'next trillion-dollar company'

Marvell Technology’s stock price soared over 24% in premarket trading on June 2 after Nvidia CEO Jensen Huang described the chipmaker as the 'next trillion-dollar company' during an event at Computex in Taipei. Huang and Marvell CEO Matt Murphy were speaking at the conference, where Huang’s endorsement triggered the surge. The stock was up 24.4% at $272.9 per share, potentially adding more than $47.2 billion to Marvell’s market capitalization if the gains hold. Nvidia’s shares also rose modestly by 1.4%. Huang’s remarks came during a keynote at Computex, an annual technology trade show held in Taipei, Taiwan. The event draws global tech leaders and investors, amplifying the impact of such statements. The surge reflects growing investor confidence in Marvell’s position in the semiconductor industry, particularly as demand for high-performance chips remains strong. Analysts often highlight Marvell’s role in data infrastructure and AI acceleration as key growth drivers. Nvidia’s own stock performance remained stable but positive, reflecting broader market optimism in the tech sector. The cross-industry endorsement underscores Marvell’s strategic importance in the evolving chip market.