Marvell’s market cap reaches $278 billion after Nvidia CEO’s endorsement
Nvidia CEO Jensen Huang has expressed confidence in Marvell Technology, stating that the company’s chips are essential for optimizing data centers.
Marvell specializes in optical interconnect chips that transmit data at ultra-high speeds, providing enormous cost savings at the hyperscale level.
Nvidia invested $2 billion in Marvell stock earlier this year, coinciding with an agreement to work closely and optimize chip designs across Marvell’s portfolio.
Marvell’s stock has skyrocketed since Huang’s comments, with a current market cap of about $278 billion, and could nearly quadruple if it reaches a trillion-dollar valuation.