Marvell Technology, a chip and networking company based in Santa Clara, California, rose 23% to US$270 in premarket trading in New York on June 2 after Nvidia CEO Jensen Huang said at Computex in Taipei that Marvell would be the next company to reach a US$1 trillion valuation.

That would be more than 5x Marvell’s current market capitalisation of about US$192 billion.

The move came about three months after Nvidia disclosed a US$2 billion investment in Marvell and a partnership to connect Marvell to Nvidia’s NVLink Fusion ecosystem.

Under the deal, Marvell will provide custom XPUs and NVLink Fusion-compatible scale-up networking, while Nvidia will provide technologies for rack-scale AI infrastructure.

The rally also reflects Marvell’s exposure to AI infrastructure. Its custom AI silicon and interconnect products have entered high-volume production, while Marvell’s data center revenue surged 78% year on year to US$1.4 billion in its fiscal fourth quarter.

🔗 Source: Bloomberg

Recent Marvell Technology developments