Shares of Marvell Technology climbed sharply before trading opened on Tuesday after Jensen Huang, CEO of Nvidia, made a bold prediction about the company, according to Bloomberg.
Huang said the semiconductor and networking solutions provider could be the next company to reach a $1 trillion market capitalization. That prediction is more than five times the company's then-current market cap.
He made the comment at the Taipei Computex trade show, arguing that Marvell's valuation could rise significantly as the era of "useful artificial intelligence" arrives. Marvell Technology CEO Matt Murphy also appeared on stage alongside Huang.
Market reaction and figures
Bloomberg reported that Marvell's stock was set to open about 23% higher in U.S. trading on Tuesday. Year-to-date, the company's share price has already risen by more than 145%.
Why it matters
The remark drew attention because Huang leads one of the world's largest publicly traded technology companies. Forecasts from such high-profile executives can trigger rapid investor responses, especially in the AI sector where demand for semiconductors and networking hardware can change quickly.
These developments are reported for informational purposes and do not constitute investment advice or a recommendation; the details here are based on Bloomberg's reporting.
