MRVL•MRVL•Marvell Technologies shares surged nearly 30% to $285 after Nvidia CEO Jensen Huang named it the next trillion-dollar company, boosting its market cap from $191bn to $234bn. The company reported Q1 revenue of $2.4bn, up 28% year-over-year, driven by AI-related data-center bookings and a $2bn Nvidia partnership.
In a keynote at Computex, Nvidia CEO Jensen Huang named Marvell Technologies as the next potential member of the trillion-dollar market capitalization club. This endorsement triggered a nearly 30% surge in Marvell’s share price, lifting it to $285 and expanding its market value from $191bn to $234bn.
In March, Nvidia committed $2bn to deepen its strategic alliance with Marvell, focusing on advanced AI chip development and optical networking solutions for cloud computing. Under the agreement, Marvell supplies high-speed optical networking chips while Nvidia provides AI infrastructure support, solidifying their collaboration in data-center connectivity.
Marvell reported first-quarter revenue of $2.4bn, marking a 28% increase year-over-year. The data-center segment, driven by AI-related bookings, led the growth and prompted management to raise revenue forecasts for the next two years.
Despite the recent market cap increase to $234bn, Marvell remains far from the trillion-dollar threshold, requiring a fourfold valuation rise. Analysts point to sustained AI demand, strategic partnerships, and continued revenue momentum as key factors in narrowing this gap.
Finance
