Marvell Technology Stock Surges 23% in Premarket Trading Following Nvidia CEO's Endorsement

Marvell Technology Shares Soar 23% After Jensen Huang's Prediction

Shares of Marvell Technology shot up 23% to $270 in US premarket trading following a prediction by Jensen Huang, chief executive officer of Nvidia Corporation, that the semiconductor and networking company could become the "next trillion-dollar company." This surge came after the stock had already closed 7% higher at $219.43 on Monday, with Marvell shares delivering stellar gains of 158% so far this year. The company's market capitalization has reached nearly $192 billion.

The prediction was made by Huang at the Computex trade show in Taipei, where he stated that the age of "useful AI has arrived." This statement is significant, given Nvidia's strategic interests tied to Marvell's growth, as the chip giant invested $2 billion in the company three months ago. The collaboration allows customers to use components from both firms to develop semi-custom AI infrastructure solutions.

Marvell has also aggressively expanded through acquisitions in recent months, announcing the purchase of optical networking company Celestial AI for $3.25 billion and interconnect technology company XConn for $540 million. This growth, combined with the growing demand for artificial intelligence and data-center infrastructure, has propelled several global technology companies into the $1 trillion market capitalization club.

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The growing demand for AI and data-center infrastructure has driven the valuations of several technology companies to over $1 trillion. Samsung Electronics crossed the $1 trillion mark earlier in May, while SK Hynix reached the milestone in May 2026. Micron Technology also joined the trillion-dollar club this year as demand for AI data-center infrastructure accelerated sharply. Nvidia continues to lead the AI boom, with its valuation at $5.5 trillion.

According to data compiled by Bloomberg, around 15 companies had market capitalizations exceeding $1 trillion as of Monday. Almost all companies in the trillion-dollar club are technology-focused businesses, apart from Saudi Aramco, Eli Lilly and Company, and Berkshire Hathaway.

The AI boom has powered a semiconductor rally, with chipmakers emerging as some of the biggest beneficiaries of aggressive spending by technology giants to scale up AI infrastructure globally. Since the AI boom was ignited by OpenAI's ChatGPT launch in 2022, demand for semiconductor companies has grown exponentially, as advanced chips are critical for training and running AI models. Technology giants such as Amazon, Alphabet Inc., and Microsoft have pledged to spend hundreds of billions of dollars to expand data-center capacity and accelerate AI investments. The rapid adoption of AI products such as ChatGPT and Anthropic's Claude has triggered a global race among companies to capture market share in the infrastructure powering next-generation artificial intelligence technologies.

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