Nvidia boss calls Marvell the next trillion-dollar company
Marvell Technology shares exploded more than 24% in premarket trading on Tuesday after Nvidia CEO Jensen Huang gave the company the ultimate tech industry endorsement, crowning it the world’s next "trillion-dollar company".
The jaw-dropping comment came during a joint appearance by Huang and Marvell CEO Matt Murphy at the high-profile Computex tech conference in Taipei. While introducing Marvell, Huang interrupted Murphy to boldly declare them the next member of the trillion-dollar club. While Marvell’s market cap closed just short of $192 billion on Monday—meaning it has a way to go to hit Huang’s trillion-dollar prediction—investors bought into the hype immediately. The stock surge is poised to add over $47 billion to Marvell's market value, News.Az reports, citing Reuters.
The two companies are tightly intertwined in the artificial intelligence race. Earlier this year, Nvidia poured a massive $2 billion investment into Marvell. The partnership is designed to help tech clients blend Marvell’s custom-designed AI chips seamlessly with Nvidia’s market-dominating central processors and networking hardware.
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As tech giants aggressively scale out massive AI data centers, the demand for specialized silicon is hitting fever pitch. Marvell’s critical interconnect technologies act as the vital communication highway, linking tens of thousands of processors together to train complex AI models. Just last week, Marvell forecast that its custom chip wing alone would skyrocket past $10 billion in revenue by fiscal 2029.
By Aysel Mammadzada
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