After Nvidia referred to Marvell as «the next trillion-dollar company,» its stock reached an all-time high
After Nvidia CEO Jensen Huang referred to the chipmaker as the next «trillion-dollar company,» Marvell Technology’s stock increased by more than 25% on Tuesday.
Huang and Matt Murphy, CEO of Marvell, both gave speeches on Tuesday during Computex Week in Taipei.
Marvel’s market value is now $234 billion, well below the trillion-dollar threshold Huang indicated, after the company’s shares surged 22.5% to an all-time high.
Earlier this year, Nvidia made a $2 billion investment in Marvell in an attempt to facilitate customers’ use of the company’s bespoke AI chips with Nvidia’s core processors and networking hardware. After Nvidia CEO Jensen Huang referred to the chipmaker as the next «trillion-dollar company.» Marvell Technology’s stock increased by more than 25% on Tuesday.
Huang and Matt Murphy, CEO of Marvell, both gave speeches on Tuesday during Computex Week in Taipei.
Marvel’s market value is now $234 billion, well below the trillion-dollar threshold Huang indicated, after the company’s shares surged 22.5% to an all-time high.
Earlier this year, Nvidia made a $2 billion investment in Marvell in an attempt to facilitate customers’ use of the company’s bespoke AI chips with Nvidia’s core processors and networking hardware.
As cloud computing businesses develop their AI data centers. Marvell predicted last week that its custom chip business would generate more than $10 billion in revenue by fiscal year 2029.
The demand for specialist chips has increased due to the rise in AI usage. These chips, together with Marvell’s interconnect technologies, are essential in sophisticated data centers. They connect thousands of processors that are used to train and execute AI models.
If profits continued, Marvel seemed ready to hit a market valuation of more than $45 billion. The stock of Nvidia increased 3.2%.
