Marvell Technology Inc. stock closed at $290.31 on June 2, rising 32.30%, after Nvidia CEO Jensen Huang described the semiconductor company as a potential next $1 trillion firm at Computex 2026 in Taipei. The rally followed Huang's public endorsement of Marvell's networking and connectivity products as central to large AI clusters, where computing work is distributed across thousands of chips requiring fast data exchange. Investor attention has shifted toward companies supplying hardware for artificial intelligence data centers, as cloud providers expand capacity for generative AI workloads and demand for AI interconnects, custom chips, and optical connectivity accelerates.
Nvidia CEO Endorses Marvell at Computex 2026
Huang appeared with Marvell CEO Matt Murphy at Computex 2026 in Taipei and stated that data center computing is increasingly distributed across large clusters, making fast connectivity necessary for AI workloads. He described Marvell as "essential" to that structure and told Murphy that Marvell could become the next trillion-dollar company. The comments added momentum to a stock already tied closely to AI infrastructure spending. Marvell's market value rose to about $249 billion after the rally, based on market data cited during the session. A move to a $1 trillion valuation would require the company's equity value to increase several times from current levels.
Nvidia has committed a $2 billion investment in Marvell. The investment is part of a broader relationship focused on semi-custom AI infrastructure and data center technology. The partnership allows customers to use components from both companies when developing specialized AI systems.
Marvell Reports Fiscal Q1 Revenue and AI Growth Forecasts
Marvell recently reported fiscal first-quarter revenue of $2.4 billion, above analyst expectations, and forecast continued growth tied to its data center business. The company stated that AI infrastructure demand remains one of the main drivers of its current revenue outlook. Marvell now expects AI interconnect revenue to grow by more than 70% in fiscal 2027, up from a prior expectation of about 50%. That increase reflects stronger demand for networking products used in large AI clusters.
Optical networking is another area drawing attention. Large AI data centers require faster and more efficient data movement, and optical transceivers convert electrical signals into light to help move information over longer distances with fewer bottlenecks. Marvell supplies digital signal processors used inside these transceivers. Analyst commentary has projected Marvell's optical-networking revenue could grow by as much as 90% this year and next. The company has expanded in this area through acquisitions, including Celestial AI for $3.25 billion and XConn for $540 million.
Marvell's custom ASIC business remains another part of its AI exposure. These chips are designed for specific customer needs and are used by cloud and infrastructure companies seeking optimized performance for AI workloads.
Stifel Raises Price Target to $321 After Computex
Stifel raised its price target on Marvell to $321 from $230 and kept a Buy rating on the shares after Murphy's Computex keynote. The firm said the event helped show wider market acceptance of Marvell's position in the data center and AI ecosystem. The stock's rally followed a strong recent run. Marvell shares had more than tripled over the past 12 months before the latest move, according to market data cited during the session. The stock was trading at a forward price-to-earnings ratio above 46 times, based on FactSet data.
CoinCodex Forecasts MRVL Stock at $134.79 by End of 2026
CoinCodex's MRVL stock prediction adds a more cautious near-term view. According to the platform, Marvell Technology stock is forecast to reach $134.79 by the end of 2026, implying downside from the post-rally price, before rising to $668.39 by the end of 2030. The forecast suggests that MRVL may face valuation pressure in the short term, while still offering longer-term upside if AI infrastructure demand continues to expand.
FAQ
What did Nvidia CEO Jensen Huang say about Marvell at Computex 2026?
Nvidia CEO Jensen Huang appeared with Marvell CEO Matt Murphy at Computex 2026 in Taipei and stated that Marvell is "essential" to distributed data center computing for AI workloads. He told Murphy that Marvell could become the next trillion-dollar company.
How much did Marvell stock rise on June 2?
Marvell Technology Inc. stock closed at $290.31 on June 2, rising 32.30%. The rally pushed the company's market value to about $249 billion.
What is Marvell's AI interconnect revenue growth forecast for fiscal 2027?
Marvell expects AI interconnect revenue to grow by more than 70% in fiscal 2027, up from a prior expectation of about 50%, reflecting stronger demand for networking products used in large AI clusters.
