Shares of chipmaker Marvell Technology soared in premarket trading Tuesday, hours after Nvidia CEO and billionaire Jensen Huang called it the next trillion-dollar company at the Computex trade show in Taipei.
NVIDIA CEO Jensen Huang and Marvell CEO Matt Murphy during a keynote event at COMPUTEX.
Cheng Chia Huang/Getty Images
During his keynote speech, Marvell CEO and Chairman Matt Murphy invited Huang to the stage to discuss the company’s strategic partnership with Nvidia, announced in March.
After being welcomed on stage, the Nvidia CEO interrupted Murphy unprompted and said: “The next trillion-dollar company, ladies and gentlemen.”
Murphy quickly responded with excitement and told Huang, “Let’s do it together.”
Huang touted the arrival of what he called “useful AI” and artificial intelligence agents, and hyped Marvell’s networking semiconductors before reiterating: “That’s why they’re going to be the next trillion-dollar company.”
Murphy said they have got a “little work to do,” but they were on their way to it.
Marvell’s stock price surged more than 25% in premarket Tuesday, to $274. The overnight surge follows a 7% rise in the stock’s price on Monday. Marvell’s stock price is up more than 158% since the start of the year. The company’s market cap breached $100 billion for the first time in December 2024, and it stood at $191.96 at market close Monday.
Huang made another appearance at a Computex keynote on Tuesday, when he was invited on stage by the CEO of the semiconductor giant ARM Holdings Rene Haas. On Monday, Nvidia revealed its first fully integrated chip made for Windows laptops and desktops, the RTX Spark, which uses a CPU based on ARM’s chips and is capable of running “personal AI agents,” marking the company’s first attempt to build a fully integrated consumer chip. When Haas congratulated him on the launch of RTX Spark, the Nvidia CEO quipped, “I announce a product. Look at his stock price. Every product I announce, his stock price goes up. Nothing happens to mine.” ARM’s shares rose 15.73% to $408.85 on Monday following the RTX Spark announcement.
The RTX Spark announcement was followed by Nvidia’s best trading day since February as its stock rose 6.26% to $224. The RTX Spark is a cut-down version of the chips used on Nvidia’s AI supercomputers and the company claimed it will be able to run powerful local AI agents, along with popular games and productivity software on Microsoft Windows. Nvidia has been making consumer laptops and desktop GPUs for decades, but unlike the RTX Spark—which uses the AI giant’s own custom-made CPU designed in collaboration with MediaTek—those computers had to be paired with either an Intel or AMD CPU. The Spark’s launch will allow Nvidia to take on rivals like Qualcomm, Apple, Intel and AMD.
Nvidia Has Best Trading Day In Months After Revealing New Laptop Chip (Forbes)
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