Marvell Surges 32% on June 2 After Nvidia CEO Huang Eyes $1T Valuation

According to Nvidia CEO Jensen Huang at Computex 2026, Marvell Technology Inc. (MRVL) stock surged 32.30% on June 2, closing at $290.31 after Huang called the semiconductor company a potential next $1 trillion firm. He said Marvell's networking and connectivity products are essential to large AI clusters where computing work is distributed across thousands of chips that must exchange data rapidly. Marvell's market value rose to approximately $249 billion following the rally.

Nvidia has committed a $2 billion investment in Marvell focused on semi-custom AI infrastructure and data center technology. The company now forecasts AI interconnect revenue will grow by over 70% in fiscal 2027, up from a prior 50% expectation. Stifel raised its price target on Marvell to $321 from $230 after the Computex keynote, maintaining a Buy rating.