Mysterious traders rush to AI stock after NVIDIA CEO’s $1T call

NVIDIA CEO Jensen Huang predicted Marvell Technology could become the next trillion-dollar company during a keynote at Computex Week in Taipei on June 1. Huang highlighted Marvell’s role in designing high-performance chips for AI data centers, where its networking and connectivity solutions are critical for distributed computing. The prediction came days after NVIDIA announced a $2 billion investment in Marvell on May 31, solidifying a strategic partnership between the two semiconductor firms. Marvell’s stock price surged from over $200 on June 1 to an all-time high of $324.15 following Huang’s remarks. The rally extended to decentralized crypto exchange Hyperliquid, where traders rushed to buy Marvell-linked perpetual futures contracts. These contracts, which track Marvell’s Nasdaq-listed shares with up to 10x leverage, saw trading volume of $293 million and open interest of $121.87 million in 24 hours, making it the largest U.S. stock-linked contract on the platform. Hyperliquid’s anonymous trading model—where users are identified only by blockchain wallet addresses—has drawn attention to the surge. While the platform primarily trades cryptocurrencies like Bitcoin and Ethereum, Marvell’s contract became its most active U.S. stock-linked asset. The exchange also hosts contracts for Brent and WTI Crude oil, reflecting its appeal amid market volatility. The trading frenzy underscores Marvell’s growing prominence in AI infrastructure, as its chips enable faster data sharing across data centers. Huang’s endorsement, combined with NVIDIA’s investment, has positioned Marvell as a key player in the AI semiconductor race. Meanwhile, Hyperliquid’s surge in Marvell activity highlights the intersection of traditional markets and decentralized trading platforms.