Marvell shares surge 32% after Jensen Huang's GTC mention

Jensen Huang’s June 2 appearance with Marvell CEO Matt Murphy at Computex in Taipei set off one of the biggest single-day moves in the semiconductor sector this year. Marvell Technology shares rose 32.52% on Tuesday, their biggest one-day gain on record, after Nvidia’s chief executive called the company the “next trillion-dollar company.” CNBC said the stock finished the session with a market value just above $250 billion, while Reuters reported the shares had earlier traded at a level implying roughly $234 billion. The move mattered because Huang was not talking about a marginal supplier. Marvell is a large chip designer focused on data-center networking, connectivity and custom silicon, and Huang tied that business directly to how modern AI systems are built. At Computex, he said large computing workloads are broken apart and spread across vast clusters, making fast connectivity essential. (cnbc.com) ### What exactly did Huang say on stage? CNBC reported that Huang said Marvell was set to be the “next trillion-dollar company” during the onstage appearance with Murphy in Taipei. Reuters separately described Huang as calling the chipmaker the next “trillion-dollar company” while the two executives appeared during Computex week. Huang’s public case centered on networking. (cnbc.com) CNBC quoted him saying, “When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity,” adding that Marvell was “so essential.” ### Why did investors react so fast? Marvell’s 32.52% jump was its best trading day ever, according to CNBC. (cnbc.com) Reuters said the rally would add more than $45 billion in market capitalization if the gains held, a measure of how much weight investors gave to Huang’s endorsement. The reaction also reflected Marvell’s position inside the AI supply chain. Reuters said the company’s specialized chips and interconnect technologies are used to link thousands of processors in advanced AI data centers. (cnbc.com) CNBC described Marvell as a designer of chips used in cloud computing, AI, enterprise networking, 5G carrier networks and automotive systems. ### Why is Marvell tied so closely to Nvidia right now? (cnbc.com) Reuters reported that Nvidia invested $2 billion in Marvell earlier in 2026 as part of a broader effort to help customers use custom AI chips alongside Nvidia networking gear and central processors. CNBC also reported that Nvidia had recently committed $2 billion to Marvell and other photonics-related efforts. That relationship helps explain why Huang’s comments carried unusual weight. (cnbc.com) Marvell is one of the companies trying to supply the custom and connectivity pieces around AI infrastructure rather than compete head-on with Nvidia’s flagship accelerators, according to Reuters’ description of the investment rationale. ### Was there already a business case before the comment? (cnbc.com) Marvell said in May that its fiscal 2027 first-quarter revenue reached $2.4 billion and forecast continued growth driven by its data-center business, CNBC reported. Reuters said Marvell also told investors last week that its custom-chip business could surpass $10 billion in revenue in fiscal 2029 as cloud companies expand AI data centers. (money.usnews.com) That means Tuesday’s surge followed both a public endorsement and recent company guidance. The stock move did not put Marvell close to a $1 trillion valuation, but it did push investors to reprice a company that Huang explicitly linked to the core plumbing of AI computing. ### What comes next for Marvell? Marvell’s next formal test will be its upcoming quarterly results and any update on data-center demand, custom-chip orders and networking revenue. (cnbc.com) Reuters said the company last week pointed investors to fiscal 2029 custom-chip revenue above $10 billion, and CNBC said its latest quarter already beat analyst estimates.