Key facts
- Nvidia CEO Jensen Huang called Marvell a potential $1 trillion company, boosting its stock.
- Marvell's stock rose significantly following Huang's comments.
- Huang also commented positively on software companies, contributing to sector gains.
- Previous comments by Huang on quantum computing led to significant stock declines in that sector.
- Huang also highlighted Dell's role in Nvidia's partner ecosystem, leading to a stock pop for Dell.
Nvidia CEO Jensen Huang has demonstrated a significant ability to influence stock prices beyond his own company. Recently, his statement that Marvell Technology could become the next $1 trillion company caused Marvell's stock to skyrocket, climbing as much as 32% on June 2 and extending gains. This follows a $2 billion investment Nvidia made in Marvell in March, recognizing Marvell's role in areas like optical technology, which is crucial for AI data centers. Huang's influence also extended to the software sector; after Snowflake's strong earnings report, Huang's comments that AI would create more software companies, not fewer, fueled a rally in software stocks, with the iShares Expanded Tech-Software Sector ETF gaining nearly 6% on Monday and over 6% the previous Friday. Conversely, Huang's earlier remarks about quantum computing, suggesting practical uses were decades away, caused quantum stocks like D-Wave Quantum, Rigetti Computing, Quantum Computing Inc., and IonQ to plunge, with some experiencing up to 50% declines. More recently, Huang's bullish stance on quantum at an "inflection point" reversed this trend. Additionally, during an Nvidia earnings call in 2024, Huang specifically mentioned Dell's contributions to Nvidia's ethernet efforts, causing Dell's stock to pop approximately 4% that trading session. Dell has since seen substantial gains, more than tripling in value since early 2026, partly due to its role in AI hardware and Nvidia's AI factory projects.