131465955

Marvell Technology's shares surged more than 25% on Tuesday after Nvidia's CEO Jensen Huang called the chipmaker the next "trillion-dollar company."Huang and Marvell CEO Matt Murphy were speaking at the Computex week in Taipei on Tuesday.Marvell's shares were... Marvell Technology's shares surged more than 25% on Tuesday after Nvidia's CEO Jensen Huang called the chipmaker the next "trillion-dollar company."Huang and Marvell CEO Matt Murphy were speaking at the Computex week ‌in Taipei ⁠on ⁠Tuesday.Marvell's shares were last up 22.5% at a record high, giving the company a market capitalization of $234 billion, far below the one-trillion mark that Huang touted.Nvidia invested $2 billion in Marvell earlier ​this year, as part of ⁠its efforts ‌to make it easier for ​customers ​to use the custom artificial intelligence ⁠chips that the smaller company designs ​with Nvidia's networking gear and central ​processors.Marvell last week forecast that its custom chips business would surpass $10 billion in revenue in fiscal 2029, as cloud companies expand AI data centers.The surge in AI ‌adoption has fueled demand for specialized chips, which along with Marvell's interconnect technologies, play a critical ⁠role in advanced data centers by linking thousands of processors used to train and run AI models.Marvell looked set to add more than $45 billion in market capitalization if gains hold. Nvidia shares climbed 3.2%. Marvell Technology's shares surged more than 25% on Tuesday after Nvidia's CEO Jensen Huang called the chipmaker the next "trillion-dollar company."Huang and Marvell CEO Matt...