Marvell Technology shares surged another 15% in premarket trading on Wednesday, June 3, 2026, carrying momentum from the biggest single-day gain in the company’s history after
Nvidia CEO Jensen Huang called it a future trillion-dollar company during the Computex 2026 conference in Taipei.
Marvell Technology (NASDAQ: MRVL) gained 32.52% on Tuesday, June 2 its largest one-day move ever, narrowly eclipsing a record set in May 2023 after Huang praised the company’s AI infrastructure work during an onstage appearance with Marvell CEO Matthew Murphy at Computex Week.
MRVL stock gained 33% on Tuesday, lifting Marvell’s market capitalization by $62.42 billion to $254.38 billion.
The stock added a further 15% Wednesday morning in premarket trade, putting shares on course for consecutive all-time highs.
What Huang Said on Stage in Taipei
Nvidia CEO Jensen Huang made a surprise guest appearance during Marvell CEO Matt Murphy’s keynote at Computex 2026 in Taipei on June 2, joining Murphy on stage for about 10 minutes in what became the most-talked-about moment of the one-hour presentation.
Huang declared Marvell the next potential trillion-dollar company due to its essential data center connectivity that supports complex AI computing orchestration.
He explained the logic directly: when a computing problem is disaggregated across a distributed data center, connectivity becomes the binding constraint.
Huang said Marvell’s products make those systems possible, and that its networking and connectivity technologies are critical components of modern AI data centers, where workloads are spread across thousands of processors that must continuously exchange massive data volumes.
Partnership and Investment That Preceded the Endorsement
The Computex comments did not arrive without context.
On March 31, 2026, Nvidia and Marvell announced a strategic partnership to connect Marvell to the Nvidia AI factory and AI-RAN ecosystem through Nvidia NVLink Fusion, offering customers greater choice in building AI infrastructure.
Nvidia also invested $2 billion in Marvell.
Under the deal, Marvell will provide custom XPUs and NVLink Fusion-compatible scale-up networking, while Nvidia contributes its Vera CPU, ConnectX NICs, Bluefield DPUs, NVLink interconnect, and Spectrum-X switches.
The two companies are also co-developing silicon photonics, which transmits data via light rather than electricity across large clusters.
Marvell acquired Celestial AI in early 2026 for $3.25 billion, adding photonic fabric technology to its portfolio.
That acquisition closed roughly six weeks before the Nvidia investment was announced.
Revenue Trajectory Behind the Valuation Argument
Marvell delivered record fiscal 2026 revenue of $8.195 billion, a 42% year-over-year increase. Non-GAAP EPS rose 81% year-over-year to $2.84 per diluted share.
In Q1 fiscal 2027, Marvell posted revenue of $2.418 billion, up 28% year-over-year, and guided Q2 revenue to $2.7 billion at the midpoint, representing 35% year-over-year growth.
CEO Matt Murphy said the company expects growth to continue accelerating each quarter throughout fiscal 2027, driven by data center strength.
Marvell has projected its custom chip business could generate more than $10 billion in annual revenue by fiscal 2029 and has raised its fiscal 2028 revenue target to approximately $16.5 billion, up from a prior forecast of $15 billion.
Analyst and Market Reaction
Gary Black, managing partner at The Future Fund, said Marvell and Broadcom “appear to be the big winners in Wall Street’s new appreciation for custom AI chips.”
Both companies design application-specific integrated circuits, or ASICs, for cloud customers seeking alternatives to standard processors.
Not all observers see a clear runway. Insider selling of $32 million worth of shares over the past three months has drawn scrutiny, with some analysts noting the stock’s P/E ratio warrants caution given the magnitude of gains.
The June 5 options chain had estimated a price movement of roughly plus or minus 9.5% before Huang’s remarks; the actual move far exceeded that, catching the options market off guard and driving put options toward near-zero while call options surged more than 100%.
What Comes Next
- Q2 FY2027 earnings: Marvell guided to $2.7 billion in revenue at the midpoint for the quarter ending around August 2026.
- NVLink Fusion reference designs: The first semi-custom reference designs integrating Marvell’s 1.6T optical interconnects with Nvidia’s Rubin GPU architecture are expected by Q3 2026.
Google chip partnership: Reports indicate Google and Marvell are in discussions to co-develop a Memory Processing Unit alongside Google’s TPUs, which, if confirmed, would place Marvell inside two major AI ecosystems simultaneously. This claim remains Unverified pending an official announcement.
