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Broadcom Plunges 13.7% on Earnings Miss as Marvell Surges 37% After Nvidia CEO's $2B Backing

2026-06-04 15:40:18

AVGO-10.03%

NVDA1.36%

Broadcom reported strong Q2 AI semiconductor revenue of $10.8 billion, up 143% year-over-year, with Q3 guidance of $16 billion, but stock fell 13.7% after missing analyst expectations. Meanwhile, Marvell's stock surged 37% in two trading days following Nvidia CEO Jensen Huang's public endorsement at Computex, where he named Marvell as a potential next trillion-dollar company. Huang has also invested $2 billion in Marvell as part of an NVLink Fusion strategic partnership.

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