Marvell stock extends gains after a 32% pop as Nvidia CEO calls chipmaker 'the next trillion-dollar company'

Marvell stock extends gains after a 32% pop as Nvidia CEO calls chipmaker 'the next trillion-dollar company' Ines Ferré · Senior Business Reporter Updated Wed, June 3, 2026 at 2:45 PM GMT+2 1 min read MRVL NVDA 005930. KS 000660. KS MU What happened: Marvell Technology ( MRVL ) shares extended their gains another 10% in Wednesday's premarket trading after surging 32% in the previous session, fueled by comments from Nvidia ( NVDA ) CEO Jensen Huang, who described the custom chipmaker as "the next trillion-dollar company.

" More from Yahoo Scout What is Marvell's strategic partnership with Nvidia about? What are Marvell's projected revenues for fiscal 2029? Why did Jensen Huang call Marvell a trillion-dollar company?

How does Marvell's custom chip business generate revenue? What’s behind the move: Huang’s comments made at Computex week in Taipei sent Marvell stock soaring as he appeared onstage alongside Marvell CEO Matt Murphy. After taking the stage, Huang said, “Ladies and gentlemen, the next trillion-dollar company,” in reference to Marvell.

The custom chipmaker’s market cap sat just under $254 billion on Tuesday, still a long way from $1 trillion. Last month, memory chipmakers Micron Technology ( MU ), Samsung Electronics ( 005930. KS ), and SK Hynix ( 000660.

KS ) all made headlines as they topped valuations of $1 trillion for the first time. What else you need to know: Marvell designs optical networking chips and custom AI accelerators, commonly called XPUs. The company has built silicon for cloud giants such as Microsoft ( MSFT ) and Amazon ( AMZN ).

Nvidia announced a strategic partnership with Marvell earlier this year, along with a $2 billion investment. Marvell recently projected its custom chip business would cross $10 billion in revenue by fiscal 2029, fueled by growing AI data center investment. Ines Ferre is a senior business reporter for Yahoo Finance.

Follow her on X at @ines_ferre .