Marvell Technology Inc. stock closed at $290.31 on June 2, rising 32.30%, after Nvidia CEO Jensen Huang described the semiconductor company as a potential next $1 trillion firm. The rally placed Marvell among the strongest large-cap technology movers of the session and pushed renewed attention toward companies supplying hardware for artificial intelligence data centers.
The move followed Huang’s appearance with Marvell CEO Matt Murphy at Computex 2026 in Taipei. Huang said Marvell’s networking and connectivity products are central to large AI clusters, where computing work is spread across thousands of chips that must exchange data quickly.
Marvell designs chips and networking products used in cloud computing, AI systems, enterprise networks, 5G infrastructure, and automotive applications. Investor attention has shifted toward its role in AI interconnects, custom application-specific integrated circuits, and optical connectivity products.
NVIDIA Endorsement Lifts MRVL Stock
Huang said data center computing is increasingly distributed across large clusters, making fast connectivity necessary for AI workloads. He said Marvell is “essential” to that structure and told Murphy that Marvell could become the next trillion-dollar company.
The comments added momentum to a stock already tied closely to AI infrastructure spending. Marvell’s market value rose to about $249 billion after the rally, based on market data cited during the session. A move to a $1 trillion valuation would require the company’s equity value to increase several times from current levels.
NVIDIA has also committed a $2 billion investment in Marvell. The investment is part of a broader relationship focused on semi-custom AI infrastructure and data center technology. The partnership allows customers to use components from both companies when developing specialized AI systems.
The Nvidia endorsement came as investors continue to track companies positioned beyond graphics processors. As AI models grow larger, demand has moved into networking chips, switches, interconnects, and optical systems that help transfer data across servers and chips.
AI Data Center Demand Drives Marvell Outlook
Marvell recently reported fiscal first-quarter revenue of $2.4 billion, above analyst expectations, and forecast continued growth tied to its data center business. The company has said AI infrastructure demand remains one of the main drivers of its current revenue outlook.
The company now expects AI interconnect revenue to grow by more than 70% in fiscal 2027, up from a prior expectation of about 50%. That increase reflects stronger demand for networking products used in large AI clusters.
Optical networking is another area drawing attention. Large AI data centers require faster and more efficient data movement, and optical transceivers convert electrical signals into light to help move information over longer distances with fewer bottlenecks. Marvell supplies digital signal processors used inside these transceivers.
Analyst commentary has projected Marvell’s optical-networking revenue could grow by as much as 90% this year and next. The company has also expanded in this area through acquisitions, including Celestial AI for $3.25 billion and XConn for $540 million.
Marvell’s custom ASIC business remains another part of its AI exposure. These chips are designed for specific customer needs and are used by cloud and infrastructure companies seeking optimized performance for AI workloads.
Analysts Raise Targets After Computex
Stifel raised its price target on Marvell to $321 from $230 and kept a Buy rating on the shares after Murphy’s Computex keynote. The firm said the event helped show wider market acceptance of Marvell’s position in the data center and AI ecosystem.
The stock’s rally also followed a strong recent run. Marvell shares had more than tripled over the past 12 months before the latest move, according to market data cited during the session. The stock was also trading at a forward price-to-earnings ratio above 46 times, based on FactSet data.
Marvell’s sharp gain shows investor demand for AI infrastructure names beyond Nvidia. The company’s role in networking, custom chips, and optical data transfer has placed it among the firms being watched as cloud providers expand data center capacity for generative AI.
After the June 2 move, MRVL stock remains closely tied to expectations for AI capital spending, data center expansion, and the pace of adoption for optical connectivity. Investors are also tracking whether revenue growth can support the higher valuation after the latest rally.
MRVL Stock Price Prediction
CoinCodex’s MRVL stock prediction adds a more cautious near-term view. According to the platform, Marvell Technology stock is forecast to reach $134.79 by the end of 2026, implying downside from the post-rally price, before rising to $668.39 by the end of 2030.
The forecast suggests that MRVL may face valuation pressure in the short term, while still offering longer-term upside if AI infrastructure demand continues to expand.
