What happened: Marvell Technology (MRVL) shares extended their gains another 10% in Wednesday's premarket trading after surging 32% in the previous session, fueled by comments from Nvidia (NVDA) CEO Jensen Huang, who described the custom chipmaker as "the next trillion-dollar company."
What’s behind the move: Huang’s comments made at Computex week in Taipei sent Marvell stock soaring as he appeared onstage alongside Marvell CEO Matt Murphy.
After taking the stage, Huang said, “Ladies and gentlemen, the next trillion-dollar company,” in reference to Marvell.
The custom chipmaker’s market cap sat just under $254 billion on Tuesday, still a long way from $1 trillion.
Last month, memory chipmakers Micron Technology (MU), Samsung Electronics (005930.KS), and SK Hynix (000660.KS) all made headlines as they topped valuations of $1 trillion for the first time.
What’s behind the move: Huang’s comments made at Computex week in Taipei sent Marvell stock soaring as he appeared onstage alongside Marvell CEO Matt Murphy.
After taking the stage, Huang said, “Ladies and gentlemen, the next trillion-dollar company,” in reference to Marvell.
The custom chipmaker’s market cap sat just under $254 billion on Tuesday, still a long way from $1 trillion.
Last month, memory chipmakers Micron Technology (MU), Samsung Electronics (005930.KS), and SK Hynix (000660.KS) all made headlines as they topped valuations of $1 trillion for the first time.
7 hours ago
