Shares in US-based semiconductor manufacturer Marvell Technology surged in premarket trading on Tuesday after glowing praise from Nvidia CEO Jensen Huang.
During an appearance onstage at a conference in Taiwan on Monday, Huang told the crowd and Marvell CEO Matthew Murphy that the California chipmaker would be the "next trillion-dollar company."
"Whoa, that would be exciting! Let's do it together," Murphy replied.
Huang, speaking as part of Murphy's keynote, went on to explain the reasoning behind his view, saying that Marvell has enabled greater connectivity across AI systems.
"Useful AI has arrived. It's the reason your demand is going through the roof," Huang said.
"When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what's necessary is connectivity," he added.
"That's the reason why Matt's doing so well. That's the reason why Marvell is so essential."
Huang's comments saw Marvell's share price surge more than 20% in out-of-hours trading. Around 10 minutes after Tuesday's open, Marvell's stock was trading at $267.41, up 22% from Monday's close at $219.
Marvell's share price has rocketed over the past 12 months, climbing nearly 260% since June 2025 and 145% so far in 2026.
To reach a $1 trillion valuation, Marvell's market capitalization would need to rise more than fivefold from its current level of roughly $192 billion.
Earlier in 2026, Nvidia announced a $2 billion investment in Marvell, bumping the company's stock price 11%. The deal enabled Marvell to connect its products to Nvidia's AI systems.
The AI boom has minted a fresh set of $1 trillion companies, with huge demand for AI infrastructure contributing to ballooning share prices in the tech sector.
Just last week, two chipmakers — US-based Micron and South Korea's SK Hynix — passed the $1 trillion mark in market capitalization, while Taiwanese chip titan TSMC has also hit the trillion-dollar mark amid the AI boom.
14 companies worldwide are currently worth over $1 trillion, with 10 based in the US, two in South Korea, one in Taiwan, and one in Saudi Arabia. Of those 14, 12 are either tech or tech infrastructure companies, with Saudi oil giant Aramco and Berkshire Hathaway the only exceptions.
Nvidia is the world's most valuable company by market capitalization, worth more than $5.4 trillion as of Tuesday morning.
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Will Martin is a senior business editor with 10 years of experience in various roles at Business Insider. He works with a team of reporters and editors to cover everything from Big Tech, to the aviation industry, to fast food.Prior to working on the business news team, Will led Insider's sports coverage in the company's London bureau, publishing award-nominated work on alleged gang involvement in elite boxing, deeply-reported features on a civil war in Olympic sport modern pentathlon, and profiles of some of the biggest rising-stars in soccer.Before joining the sports team, Will spent a year as an associate editor on Insider's global news team. Before that, Will worked as a markets and economics reporter for Business Insider for more than three years.During his time with the news team, Will assigned and edited reporting and features on everything from the Boeing 737 Max crisis, to the persecution of Uyghur Muslims in China, to global geopolitics, and even a Barack Obama-themed service station in Ireland.He also personally reported on allegations of illegal mass human organ harvesting in China.Prior to working for Insider, Will gained a BA in International Relations from the University of Exeter, and an MA in Financial Journalism at City, University of London.You can reach him by email on: [email protected]Or via Twitter: @willmartin19
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