Nvidia CEO Jensen Huang described chip designer Marvell Technology as the “next trillion-dollar firm,” causing its shares to surge sharply in premarket trading on Tuesday.
Marvell, a semiconductor company that develops chips for data centers, saw its stock jump after Huang highlighted the company’s role in supporting AI infrastructure during an onstage discussion with Marvell CEO Matthew Murphy at Computex Week in Taipei on Monday.
As of 6:05 a.m. ET, Marvell’s stock was up 25%, bringing its year-to-date increase to over 158%.
Huang emphasized that Marvell is positioned to become the “next trillion-dollar company,” noting that its networking and connectivity chips are crucial for data centers where computing tasks are distributed across thousands of interconnected chips that need to share data rapidly.
“When you take a computing problem and disaggregate it into many parts, distributing it across an entire data center, connectivity becomes essential,” Huang explained. “That’s why Matt’s company is doing so well and why Marvell is so vital.”
He added, “We’ve distributed and disaggregated computing so it can operate across massive clusters, allowing us to aggregate total compute, memory, and bandwidth all made possible by connectivity.”
Source (CNBC)
