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Tap here. Marvell Technology got a Monday morning bonus on top of an already absurd few weeks: the AI chipmaker is joining the S&P 500 on June 22, sending shares up another 10.4% at the open. The stock is now up 210% year-to-date, which is the kind of number that makes portfolio managers quietly update their resumes.
The S&P inclusion is almost a footnote given everything else happening around Marvell right now. Jensen Huang’s “next trillion-dollar company” call at Computex sent shares surging 32.5% in a single day, its biggest one-day gain ever, and Nvidia’s $2 billion investment announced March 31 cemented the partnership as one of the more consequential alignments in the AI infrastructure buildout. Marvell’s first-quarter numbers backed the hype: $2.4 billion in revenue, beat on estimates, and guidance pointing higher on the strength of its data center business.