Marvell shares hit record high on Nvidia CEO comments
Marvell Technology shares rose over 22% on Tuesday after Nvidia CEO Jensen Huang identified the chipmaker as a future trillion-dollar company during the Computex event in Taipei. The rally added more than $45 billion to Marvell's market capitalization as the firm forecasts its custom AI chip revenue to exceed $10 billion by fiscal 2029.
MARVELL TECHNOLOGY INC shares surged 25% on Tuesday after the CEO of NVIDIA CORP labeled the chipmaker the next trillion-dollar company. The rally added $45 billion in market capitalization, bringing Marvell's total valuation to $234 billion. This surge highlights the critical role of custom silicon and interconnect technology in supporting the rapid expansion of global artificial intelligence infrastructure.
