On June 3, Marvell Technology rose 3.47% in after-hours trading, trading at $302.37/share with trading volume of $893 million, extending its powerful rally after surging approximately 29% during the regular session.
The sustained momentum stems from NVIDIA CEO Jensen Huang publicly declaring at Computex 2026 that Marvell Technology will become the next trillion-dollar company. Speaking alongside Marvell CEO Matt Murphy, Huang confirmed the two companies are consolidating their partnership to expand critical networking and connectivity infrastructure powering next-generation AI data centers. NVIDIA has previously invested $2 billion in Marvell, with deep collaboration spanning optical interconnect and NVLink integration.
Marvell's data center segment now accounts for 75% of total revenue and continues to grow rapidly. The company reported record Q1 revenue of $2.42 billion, beating estimates, with adjusted EPS of $0.80. Management guided Q2 revenue to $2.70 billion, well above consensus of $2.6 billion, and projects custom AI chip revenue exceeding $10 billion by fiscal 2029. Multiple analysts raised price targets following these results, with Morgan Stanley noting accelerating AI interconnect demand driving stronger long-term growth.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
