Nvidia Is Up 7% in 2026 While Marvell Technology Has Nearly Doubled. Here's Why.
Nvidia's stock rose 7% in 2026, while Marvell Technology nearly doubled, driven by hyperscalers developing custom AI chips. Nvidia remains strong, but Marvell is poised to outperform it over the next five years due to growing demand for custom chips.
Nvidia's market cap surpassed $5 trillion in April 2026, and its stock rose 7% in the first four months of 2026. However, Marvell Technology's stock nearly doubled, driven by its custom AI accelerators, called XPUs, which are designed for specific processing needs. Hyperscalers like Alphabet and Amazon are developing custom AI chips, partnering with companies like Broadcom and Marvell. Nvidia announced a strategic partnership with Marvell in March and invested $2 billion in it. Marvell's data center revenue grew 46% to $6.1 billion in its fiscal 2026. Counterpoint Research projects that custom application-specific integrated circuits shipments will triple by 2027. Nvidia is expected to continue beating revenue expectations, but Marvell is expected to outperform it over the next five years.
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