Shares of Marvell Technology soared 23% to $270 in US premarket trading after Jensen Huang predicted that the semiconductor and networking company could become the “next trillion-dollar company”.
The stock had already closed 7% higher at $219.43 on Monday. So far this year, Marvell shares have delivered stellar gains, surging 158% and lifting the Santa Clara, California-based company’s market capitalisation to nearly $192 billion. If the premarket rally sustains after the opening bell, the company could record its biggest intraday jump since March.
Marvell’s valuation could surge further now that the age of “useful AI has arrived,” Huang, the chief executive officer of Nvidia Corporation, said on Tuesday at the Computex trade show in Taipei alongside Marvell CEO Matt Murphy, according to a Bloomberg report.
Nvidia also has strategic interests tied to Marvell’s growth, as the chip giant invested $2 billion in the company three months ago. The collaboration allows customers to use components from both firms to develop semi-custom AI infrastructure solutions.
In recent months, Marvell has also aggressively expanded through acquisitions, announcing the purchase of optical networking company Celestial AI for $3.25 billion and interconnect technology company XConn for $540 million.
The growing demand for artificial intelligence and data-centre infrastructure has propelled several global technology companies into the $1 trillion market capitalisation club. Samsung Electronics crossed the $1 trillion mark earlier in May amid the ongoing AI-driven rally in chip and memory stocks.
Similarly, SK Hynix crossed the $1 trillion milestone in May 2026, driven by soaring demand for HBM (high-bandwidth memory) chips used in AI servers. Micron Technology also joined the trillion-dollar club this year as demand for AI data-centre infrastructure accelerated sharply.
Meanwhile, AI startup Anthropic is reportedly valued at near the trillion-dollar mark after completing a $65 billion funding round in late May, according to media reports.
Nvidia continues to lead the AI boom, with its valuation at $5.5 trillion, retaining its status as the world’s most valuable listed company.
According to data compiled by Bloomberg, around 15 companies had market capitalisations exceeding $1 trillion as of Monday. Apart from Saudi Aramco, Eli Lilly and Company, and Berkshire Hathaway, almost all companies in the trillion-dollar club are technology-focused businesses.
AI boom powers semiconductor rally
Chipmakers have emerged as some of the biggest beneficiaries of aggressive spending by technology giants to scale up AI infrastructure globally.
Since the AI boom was ignited by OpenAI’s ChatGPT launch in 2022, demand for semiconductor companies has grown exponentially, as advanced chips are critical for training and running AI models.
Technology giants such as Amazon, Alphabet Inc., and Microsoft have pledged to spend hundreds of billions of dollars to expand data-centre capacity and accelerate AI investments.
The rapid adoption of AI products such as ChatGPT and Anthropic’s Claude has triggered a global race among companies to capture market share in the infrastructure powering next-generation artificial intelligence technologies.
(With inputs from Bloomberg)
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
