NEW YORK, June 4, 2026, 04:11 EDT
- Marvell ended Wednesday at $301.65, its highest regular-session close so far, ahead of Thursday’s U.S. premarket. Nasdaq’s normal trading hours run 9:30 a.m. to 4 p.m. ET, with premarket trading open from 4 a.m. to 9:30 a.m. ET.
- Nvidia CEO Jensen Huang said at Computex that Marvell could be the next “trillion-dollar company,” sending shares higher in the latest rally. Reuters
- Marvell is getting re-priced by investors with a focus on its AI data-center networking plays, as well as custom chips and optical interconnects that handle data between processors.
Marvell Technology is higher in early U.S. premarket trading Thursday after closing at a record. The move comes as the stock extends gains from an AI-driven rally kicked off when Nvidia CEO Jensen Huang publicly backed the chipmaker at Computex in Taipei.
Marvell shares finished Wednesday up $11.12 at $301.65 on Nasdaq, putting the company’s market cap near $269.5 billion based on the latest data. That’s well above where analysts were valuing the stock just a few months back.
Why it matters now: Marvell is getting a closer look from investors who are moving it up from a secondary chip name to a main player in the AI data center wave. Its custom chips for big cloud clients and its interconnect hardware, used to transfer data between chips and servers, are right up against a key pinch point in AI setups.
Marvell shares jumped Tuesday after Nvidia CEO Jensen Huang called Marvell the next “trillion-dollar company” during an event with Marvell’s Matt Murphy at Computex, Reuters said. Reuters also noted Nvidia put $2 billion into Marvell earlier this year to back customer efforts combining Marvell’s custom AI chips and Nvidia’s networking and processors. Reuters
That started it. Marvell’s latest figures did the rest.
Marvell posted record Q1 FY27 revenue last week, coming in at $2.418 billion, a 28% jump from the same period last year. The company guided Q2 sales to $2.7 billion, give or take 5%. Murphy said Marvell is seeing “exceptional AI-related bookings” and expects the pace of growth to pick up through fiscal 2027 on strong data-center demand. Marvell Technology, Inc.
Marvell has raised its longer-term goals. Reuters said the company now sees custom-chip revenue topping $10 billion in fiscal 2029, and boosted its 2028 outlook to about $16.5 billion, up from $15 billion. Morningstar’s William Kerwin called the new figures a sign of “another robust growth year in FY29.” Reuters
Investors mostly focus on Marvell and Broadcom when it comes to custom AI silicon for big cloud firms. Nvidia still beats the rest in AI accelerators—chips powering both training and running AI models. But the push into Marvell stock shows how fast cash is shifting to network and connectivity names around the core AI story.
Chip stocks were up. The Philadelphia Semiconductor Index climbed 1.4% Wednesday, according to Investor’s Business Daily. Marvell led gains after reaching an intraday high of $324.15.
Marvell is pushing to keep its story relevant, rolling out new products. On June 1, the company launched its Teralynx T100, a 102.4-terabit-per-second switch chip aimed at AI and cloud data centers. In Marvell’s statement, 650 Group co-founder and tech analyst Alan Weckel said the chip’s design brings latency, power efficiency, and scalability advantages.
There’s a catch. The stock has moved up sharply, but a lot of that is based on AI infrastructure spending forecasts that aren’t yet showing up in shipped product, revenue, or margins. Morningstar’s latest note put Marvell’s fair value at $235 and rated uncertainty “High”, even though it raised that estimate a lot after earnings. Morningstar
NVIDIA gave Marvell a boost, but Thursday’s going to show if buyers are still in or if the stock just trades like any other buzzy AI name. The next real move may come after company execs talk at the BofA and Evercore tech conferences, both set for June 2-3, according to .
