Marvell shot to an all-time closing high on June 2 as investors raced to price in the company’s growing role in AI data centers. Shares closed at $290.79 that day—a one-session gain of 32.52%—after Nvidia CEO Jensen Huang publicly endorsed Marvell’s long-term upside during a Computex appearance in Taiwan with Marvell CEO Matt Murphy. Huang went so far as to call Marvell “the next trillion-dollar company,” a bold prediction given Marvell’s market cap was roughly $255 billion at the time.
Huang’s endorsement carried weight: Nvidia took a $2 billion stake in Marvell in March, and the two firms have since deepened their collaboration. Nvidia has integrated Marvell’s custom ASICs into its AI data-center lineup, and the companies are jointly developing high-speed optical connectivity infrastructure—technology Huang argued is as crucial as the chips themselves. His point: as AI workloads are disaggregated and distributed across massive data centers, connective infrastructure becomes a linchpin of performance and scale.
The market has already priced in that thesis. Marvell shares have more than tripled year-to-date and roughly quadrupled over the past 12 months, dwarfing Nvidia’s ~60% gain over the same period. After-hours on June 2 saw the stock climb further—trading as high as $318.83 (an additional ~9.6%)—and the session also produced a fresh 52-week high.
A note of caution: Huang is promoting a company in which Nvidia holds a direct financial stake. Still, the structural story—AI compute increasingly reliant on advanced connectivity—has attracted investor enthusiasm. Whether Marvell can turn this momentum into sustained gains will depend on upcoming earnings and execution against the infrastructure thesis that now has Wall Street’s attention.
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