Key facts
- Marvell Technology shares surged over 25% on Tuesday.
- Nvidia CEO Jensen Huang called Marvell Technology the 'next trillion-dollar company'.
Marvell shares jump 24% after Nvidia CEO endorsement
IN SHORT
Marvell Technology shares surged over 25% after Nvidia CEO Jensen Huang called the chipmaker the 'next trillion-dollar company'. Huang and Marvell CEO Matt Murphy spoke at Computex in Taipei. Nvidia previously invested $2 billion in Marvell to integrate custom AI chips with its networking gear and processors. Marvell forecasts its custom chips business revenue to surpass $10 billion by fiscal 2029.
Key Numbers
25%Marvell Technology share increase
22.5%Marvell Technology share increase at record high
$234 billionMarvell Technology market capitalization
$10 billionMarvell Technology custom chips business revenue projection (fiscal 2029)
$2 billionNvidia investment in Marvell
$45 billionMarvell Technology market capitalization gain if gains hold
3.2%Nvidia share increase
Who's Involved
Marvell Technology
Chipmaker whose shares surged after endorsement
Nvidia CEO Jensen Huang
Called Marvell Technology the 'next trillion-dollar company'
Matt Murphy
CEO of Marvell Technology
Nvidia
Invested $2 billion in Marvell for AI chip integration
