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Marvell Technology stock surged 25% after Nvidia CEO Jensen Huang labeled the chipmaker the “next trillion-dollar company” at the Computex conference on June 2. The endorsement, made during a keynote appearance with Marvell’s leadership, underscores Huang’s confidence in the semiconductor sector’s AI-driven growth trajectory and Marvell’s positioning in networking and custom silicon.
Quick Facts
- Stock surge: Marvell Technology shares jumped roughly 25% in premarket trading following Huang’s statement.
- Timeline: The announcement came on June 2, 2026, during Computex in Taipei.
- The claim: Nvidia CEO Jensen Huang predicted Marvell could become a trillion-dollar chipmaker driven by AI infrastructure demand.
- Corporate alignment: Nvidia invested $2 billion in Marvell as part of a chip partnership, according to earlier reports.
Huang’s AI Infrastructure Forecast
Huang’s statement centered on surging demand for AI hardware and the critical role of semiconductor companies like Marvell Technology in that expansion. According to the Wall Street Journal, Huang predicted Marvell could become a trillion-dollar company “due to surging demand for AI hardware.” The Nvidia CEO appeared alongside Marvell’s leadership on stage at Computex, a major semiconductor and computing trade show in Taipei, amplifying the endorsement’s reach across the industry.
Marvell, a networking and custom silicon specialist based in Santa Clara, California, has positioned itself as a key supplier for data center and AI infrastructure. The company’s custom chip business addresses proprietary needs from cloud providers, a segment expected to drive substantial revenue growth in coming years.
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Market Context and Recent Momentum
The stock surge on June 2 reflects broader bullish sentiment around AI-focused chipmakers. Marvell Technology has already been outperforming on strong earnings and analyst upgrades. Earlier reports indicated the company projected its custom chip business could exceed $10 billion in revenue by fiscal 2029, driven by cloud providers expanding AI infrastructure.
Multiple analysts have raised price targets on the stock in recent months, and the company’s fiscal 2028 guidance calls for approximately $15 billion in total revenue with growth near 40% and adjusted earnings exceeding $5 per share. The Celestial AI and XConn acquisitions are expected to contribute $250 million to 2028 revenue, broadening Marvell’s product portfolio for the AI era.
What a Trillion-Dollar Valuation Would Mean
For context, reaching a $1 trillion market capitalization would place Marvell among the world’s most valuable companies—a tier currently occupied by only a handful of mega-cap tech firms. Huang’s forecast hinges on sustained AI demand and Marvell’s ability to capture share in the networking, connectivity, and custom silicon segments that underpin data center buildout.
The endorsement is not without stakes: Nvidia’s $2 billion investment in Marvell, announced as part of an AI chip partnership, ties the two companies’ fortunes closer together. If AI infrastructure spending accelerates as predicted by industry leaders, Marvell Technology stands to benefit from both direct customer demand and Nvidia’s continued backing of the partnership ecosystem.
Sources
- CNBC — Nvidia CEO statement on Marvell, stock surge magnitude, and timing.
- Reuters — Marvell Technology surge announcement and Huang’s trillion-dollar comment.
- Wall Street Journal — AI demand rationale for Huang’s forecast and Nvidia’s $2 billion investment in Marvell.
- Barron’s — Stock surge percentage and CEO prediction context.
- DataCenterDynamics — Computex stage appearance and CEO remarks on connectivity as AI bottleneck.
- Yahoo Finance — Marvell’s custom chip revenue projections and fiscal 2029 guidance.
