MRVL Stock Is Ripping Overnight After Nvidia CEO Crowns It ‘Next Trillion-Dollar Company’

• Nvidia CEO Jensen Huang made the comment at the Computex conference.

• Marvell, which sells networking components, has received high interest in recent months amid the AI data center boom.

• In March, Nvidia announced a $2 billion investment in Marvell.

Marvell Technology shares rocketed 17% in overnight trading after Nvidia CEO Jensen Huang endorsed it as the “next trillion-dollar company” at the Computex conference in Taipei, Taiwan, on Tuesday.

Huang made the remark during an onstage conversation with Marvell CEO Matthew Murphy, shortly after Murphy concluded a presentation showcasing his company’s latest technologies.

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To be sure, the comment was made in a lighthearted tone as Huang responded to Murphy’s congratulations on Nvidia’s slate of announcements during the opening day of Computex. Nonetheless, traders and online market observers viewed it as a strong endorsement of Marvell.

Retail Trader View On MRVL

MRVL emerged as the top most-discussed stock on Stocktwits around 1 am ET on Tuesday, with an ‘extremely bullish’ retail sentiment and ‘extremely high’ message volume.

Traders widely reposted Huang’s endorsement as a bullish signal for the stock, though some questioned whether the sharp gains were justified. “$MRVL This is kind of insane overnight pricing,” a trader said.

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