On June 2, Marvell Technology surged 15.61% in regular trading, trading at $267.56/share, with trading volume of $6.389 billion. The rally was driven by NVIDIA CEO Jensen Huang publicly stating at COMPUTEX 2026 that Marvell Technology will become the next trillion-dollar company.
During a dialogue with Marvell Chairman and CEO Matt Murphy, Huang said: \"If you ask who in the AI supply chain will become the next trillion-dollar enterprise, I believe Marvell has that potential.\" He announced that the two companies are further deepening their collaboration to expand critical networking and connectivity infrastructure for next-generation AI data centers. NVIDIA previously invested $2 billion in Marvell. On the same day, Marvell also unveiled the Teralynx T100, which it calls the industry's first 102.4Tbps switch built specifically for AI data center infrastructure.
Marvell's data center segment now accounts for 75% of total revenue, with the company targeting over $10 billion in custom AI chip revenue by fiscal 2029. Its Q1 results reported record revenue of $2.42 billion, beating analyst expectations, with multiple analysts subsequently raising price targets.
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