Marvell Technology shares skyrocketed 24% in premarket trading to $272.49 on Tuesday, adding over $47 billion in market capitalization, after Nvidia CEO Jensen Huang publicly declared the company as “the next trillion-dollar company.” The endorsement came during a joint appearance with Marvell CEO Matt Murphy at the Computex conference in Taipei, where Huang emphasized Marvell’s critical role in networking infrastructure for AI data centers.
“That’s the reason why Marvell is so essential,” Huang said. “That’s why you’re going to be the next trillion-dollar company.” Marvell closed Monday at $219.43 with a market cap of roughly $192 billion, meaning a fivefold increase would be needed to cross the $1 trillion mark. The stock has already more than tripled over the past 12 months and more than doubled in 2026 alone.
Marvell’s core contribution to AI infrastructure lies in its digital signal processors for optical transceivers, which convert electrical signals to light for faster data transfer across massive AI clusters. As AI models scale, connectivity becomes a major bottleneck, shifting focus from pure compute power to networking and silicon photonics. Barclays analyst Tom O’Malley projects Marvell’s optical-networking revenue could grow as much as 90% this year and next.
Nvidia has invested $2 billion in Marvell as part of a broader collaboration that lets customers blend technology from both firms to build semi-custom AI infrastructure. The partnership also includes Marvell’s involvement in Nvidia’s NVLink Fusion ecosystem, enabling cloud providers to connect custom accelerators to Nvidia’s infrastructure. Marvell recently acquired Celestial AI for $3.25 billion and XConn for $540 million, strengthening its position in optical networking and interconnects.
Marvell’s second-quarter revenue forecast of $2.7 billion exceeds Wall Street estimates, and its custom-chip business could surpass $10 billion annually by fiscal 2029. The company raised its fiscal 2028 revenue outlook to around $16.5 billion, with data-center revenue expected to grow 50% this year, driven by hyperscale AI demand. Despite the bullish metrics, the current market cap remains far below $1 trillion, highlighting the immense growth still priced in.
Nvidia shares also rose 1.4% on Tuesday, reflecting the broader impact of Huang’s comments and the company’s strategic investments across the AI ecosystem. The rally underscores how deeply the market hangs on Nvidia’s moves and partnerships in the AI infrastructure space.
