Marvell Technology surges as Nvidia's Huang says it could be 'next trillion-dollar company'

(Sharecast News) - Shares of Marvell Technology surged on Tuesday after the chief executive of chip maker Nvidia said it was set to be the "next trillion-dollar company".

Speaking on stage with Marvell chief executive Matthey Murphy at the Computex conference in Taipei on Monday, Jensen Huang said: "Useful AI has arrived. It's the reason your demand is going through the roof.

"When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data centre, what's necessary is connectivity.

"That's the reason why Matt's doing so well. That's the reason why Marvell is so essential."

In March, Nvidia announced it was making a $2bn investment in Marvell Technology. Huang said at the time: "The inference inflection has arrived. Token generation demand is surging, and the world is racing to build AI factories.

"Together with Marvell, we are enabling customers to leverage Nvidia's AI infrastructure ecosystem and scale to build specialised AI compute."

At 1340 BST, Marvell shares were up 18.3% in pre-market trade at $259.6.