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It took one sentence from Jensen Huang to move tens of billions of dollars. Marvell Technology shares surged about 25% in premarket trading on Tuesday after Nvidia’s chief executive, sharing a Computex stage in Taipei with Marvell boss Matt Murphy, predicted that the chip and networking company would be the next business to reach a $1tn valuation. That would be more than five times its current size.
Marvell’s valuation will climb now that the age of “useful AI has arrived,” Huang said, framing the company as a beneficiary of the same data-centre boom that has carried his own.
The Santa Clara firm makes the custom chips and optical interconnects that move data around AI clusters, the unglamorous plumbing of the boom rather than the headline processors. Its stock has gained roughly 158% this year, giving it a market value of about $192bn before Tuesday’s jump. If the premarket gain holds at the open, it would be Marvell’s biggest intraday move since May 2023.
Huang is not a disinterested cheerleader. Nvidia invested around $2bn in Marvell earlier this year, part of an effort to knit the smaller company’s custom silicon and networking gear more tightly into its own systems.
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The endorsement, in other words, talks up a company Nvidia already owns a slice of, which is worth keeping in mind when a $5.4tn chief executive names the next member of his club.
The forecast landed amid a run of bullish chip news on the same day. Memory maker SK Hynix said it would double production capacity to ease a supply crunch. STMicroelectronics nearly doubled its 2026 data-centre revenue forecast, to about $1bn, and said sales could double again in 2027.
Arm said it expects to reach its $15bn semiconductor revenue target earlier than planned. The common thread is AI infrastructure spending, which the largest tech companies, Amazon, Alphabet, and Microsoft among them, have pledged to fund to the tune of hundreds of billions of dollars this year.
Nvidia has been the clearest winner of that spending, its shares up more than 1,400% since 2023 and its market value around $5.4tn. Much of the demand now flows through the kind of connective hardware Marvell sells, and Nvidia has been pouring money into the surrounding ecosystem, including a multibillion-dollar bet on the photonics meant to replace copper inside data centres. Huang used the same Taipei stage this year to call Taiwan the “epicentre” of the AI build-out.
Roughly 15 companies carried market values above $1tn as of Monday, almost all of them in technology. Marvell is not the most valuable company below that line; dozens are worth more. What it has, for now, is the loudest endorsement, and the share price to show for it. Whether the trillion follows is a different question, and one a Computex soundbite does not answer.
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