Nvidia’s backing and Marvell’s ambitious AI revenue targets fueled a market rally that added more than $45 billion to the chipmaker’s valuation.
Shares of Marvell Technology surged on Tuesday after Nvidia CEO Jensen Huang described the chipmaker as a potential “trillion-dollar company” during an appearance at the Computex technology conference in Taipei.
The comments sparked a strong market reaction, sending Marvell’s stock up more than 25% at one point during trading. The rally pushed the company’s market value to roughly $234 billion, still well below the trillion-dollar valuation Huang suggested could be within reach in the future.
Huang appeared alongside Marvell CEO Matt Murphy at the event, highlighting the growing partnership between the two companies. Earlier this year, Nvidia invested $2 billion in Marvell as part of a broader effort to expand the ecosystem for custom artificial intelligence chips that combine Marvell’s chip design expertise with Nvidia’s networking and computing technologies.
Investor enthusiasm has also been fueled by Marvell’s optimistic outlook for its AI business. Last week, the company projected that revenue from its custom AI chip segment could exceed $10 billion in fiscal 2029, driven by increasing investments in AI infrastructure by major cloud service providers.
Demand for specialized AI processors has surged as technology companies race to build larger and more powerful data centers. Marvell has emerged as a key beneficiary of this trend through its custom silicon offerings and high-speed interconnect technologies, which help connect thousands of processors used to train and deploy advanced AI models.
If the gains hold, Marvell would add more than $45 billion to its market capitalization in a single trading session. Nvidia shares also moved higher, rising more than 3% as investors continued to bet on long-term growth in the AI semiconductor market.
The sharp rally underscores Wall Street’s confidence in companies positioned at the center of the rapidly expanding AI infrastructure ecosystem.
