Marvell Technology, a name once known mainly to semiconductor insiders, has suddenly become the talk of Wall Street—and for good reason. On June 2, 2026, the Santa Clara-based chipmaker’s stock rocketed to a record closing high, capping a remarkable run that’s left even seasoned investors shaking their heads in disbelief. The spark? A bold public endorsement from none other than Nvidia CEO Jensen Huang, who declared Marvell the “next trillion-dollar company” during a keynote at Taiwan’s Computex conference.
Huang’s words weren’t just idle flattery. According to The Motley Fool and Business Insider, Marvell’s shares soared more than 20% in out-of-hours trading after the announcement, hitting $267.41—a 22% jump from the previous day’s close at $219. That momentum has been building for months. Over the past year, Marvell’s stock has exploded by 265%, vastly outpacing the tech-heavy Nasdaq Composite’s 42% gain. Since June 2025 alone, shares are up nearly 260%, and they’ve more than doubled in 2026.
So, what’s behind this meteoric rise? The answer, in a word, is AI. But Marvell isn’t making the high-profile chips—like CPUs and GPUs—that typically grab headlines. Instead, the company focuses on the less glamorous but utterly essential hardware that connects all the pieces in a data center, enabling thousands of AI processors to communicate and collaborate at lightning speed. As Huang explained onstage, “When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity. That’s the reason why Matt’s doing so well. That’s the reason why Marvell is so essential.”
Marvell CEO Matthew Murphy, who joined Huang onstage, was quick to embrace the challenge. “Whoa, that would be exciting! Let’s do it together,” Murphy responded when Huang predicted Marvell would join the $1 trillion club. It’s a lofty goal—Marvell’s current market capitalization is about $192 billion, meaning the company would need to more than quintuple its value to hit the mark. But recent history suggests that, in today’s AI-fueled market, such leaps are far from impossible.
The AI boom has already minted a new set of trillion-dollar giants. In just the past week, US chipmaker Micron and South Korea’s SK Hynix both crossed the $1 trillion threshold, joining the likes of Taiwan’s TSMC and, of course, Nvidia itself—which now sits atop the global leaderboard with a market value of more than $5.4 trillion. Of the 14 companies worldwide worth over $1 trillion, a dozen are in tech or tech infrastructure. Marvell, with its laser focus on the plumbing of AI, is now firmly in the conversation.
Investors and analysts alike have been closely watching Marvell’s financials for signs that the hype is justified. The company’s recent results don’t disappoint. On May 27, Marvell released its fiscal 2027 first-quarter earnings for the three months ended May 2. Revenue jumped 28% year over year to $2.42 billion, while non-GAAP earnings climbed 29% to $0.80 per share. The outlook is even rosier: Marvell raised its full-year revenue guidance by $500 million to $11.5 billion and expects 35% year-over-year growth in the next quarter. Looking further ahead, management projects a staggering 45% revenue jump in fiscal 2028, reaching $16.5 billion.
The company’s data center interconnect (DCI) business—a core part of its AI strategy—is expected to double by fiscal 2028 compared to 2026 levels. Meanwhile, custom AI chip revenue is projected to grow 20% this fiscal year and more than 100% in fiscal 2028. “We are benefiting from strong demand for our data center networking solutions and custom AI processors,” Marvell’s management noted on the latest earnings call, as reported by The Motley Fool. The company is also securing more design wins for its data center products, with existing customers ramping up their orders.
Wall Street is taking note. Eleven of the thirteen analysts tracked by Visible Alpha have a “buy” rating on Marvell, with only two holding neutral stances. Oppenheimer analysts recently told clients they see “significant upside potential” for Marvell’s first-quarter results and second-quarter outlook, citing big tech’s continued investment in AI hardware. Traders, meanwhile, are bracing for volatility: options pricing ahead of the next earnings report (due after markets close Wednesday, June 3) suggests a potential swing of up to 12.5% by week’s end. That could push Marvell’s shares to fresh highs above $234—or, if the results disappoint, see them give back some recent gains.
Partnerships are also fueling Marvell’s ascent. Earlier this year, Nvidia invested $2 billion in Marvell, a move that sent the stock up 11% overnight and further deepened the companies’ ties. The deal enables Marvell to link its networking products directly to Nvidia’s AI systems—a crucial advantage as data center architectures evolve to meet the demands of ever-larger AI models. There are also reports that Marvell is in talks to design custom chips for Alphabet’s Google, another potential catalyst for future growth.
Of course, with great returns come great expectations—and some skepticism. Marvell’s valuation is eye-popping by traditional standards, trading at 70 times trailing earnings. But its forward earnings multiple of 51 suggests analysts expect robust bottom-line growth. Consensus estimates indicate earnings could rise 42% this year to $4.04 per share, and more than double by fiscal 2029. If those projections hold, and Marvell trades at the Nasdaq Composite’s average multiple, its stock could reach $370—a 68% upside from current levels, according to YCharts data cited by The Motley Fool.
Still, not everyone is convinced the rally will continue unabated. As The Motley Fool points out, its own Stock Advisor team recently left Marvell off its list of top 10 picks, suggesting some see better opportunities elsewhere despite the company’s stellar performance. Yet, for now, the consensus is clear: Marvell is riding the AI wave as well as anyone, and its accelerating growth rate is great news for investors.
As the dust settles from this week’s fireworks, all eyes are on Marvell’s next quarterly earnings. Will the company’s numbers justify the hype and keep the rally alive? Or will gravity finally catch up with one of Wall Street’s hottest stocks? Either way, Marvell’s journey from mid-sized chipmaker to potential trillion-dollar titan is a story few could have predicted—and one that’s far from over.