Marvell Surges 32% After Nvidia’s Jensen Huang Calls It the Next Trillion-Dollar Company

Benzinga reported Tuesday that U.S. equities finished the session in positive territory. The Dow Jones Industrial Average gained 0.45% to close at 51,307.79. The S&P 500 added 0.13% to 7,609.78, while the Nasdaq edged just 0.03% higher to 27,093.90.

Marvell Technology Surge Dominates the Session

The Marvell Technology surge was the undisputed headline of the trading day. Shares of the chip designer rocketed 32.52% to $290.79, touching an intraday peak of $291.30. After the bell, the stock added another 9.64%, reaching $318.83.

The catalyst was unmistakable. Nvidia CEO Jensen Huang took the stage at Computex in Taipei and publicly described Marvell as the “next trillion-dollar company.” Nvidia’s $2 billion commitment to invest in Marvell added institutional weight to Huang’s public endorsement, driving a wave of retail and institutional buying throughout the session.

Background: A Year of Volatility for Marvell

Marvell’s 52-week range stretches from $61.15 to the fresh high of $291.30, reflecting an extraordinary rerating over twelve months. The company has positioned itself as a key supplier of custom AI silicon, competing for hyperscaler contracts alongside rivals like Broadcom. Huang’s comments represent the highest-profile public validation the company has received from a peer CEO.

Also Read: Nvidia Posts Record Revenue as AI Chip Demand Accelerates

Earnings Season Delivers Mixed Signals Across the Five Movers

Beyond Marvell, four other names attracted heavy attention. Palo Alto Networks slipped 1.10% to $297.18 despite reporting $910 million in adjusted free cash flow and raising its full-year revenue forecast to a range of $11.42 billion to $11.43 billion. The cybersecurity firm cited accelerating demand for AI-security infrastructure.

GameStop fell 2.06% during regular hours before bouncing 7.07% after the close. The retailer disclosed a balance sheet holding $9.7 billion in cash, securities, and digital assets. Its board separately approved a fresh $2 billion share-repurchase programme running through June 2029.

Ulta Beauty dipped 1.18% intraday but climbed back 1.14% in extended trading after posting first-quarter revenue of $3.16 billion, up 11.1% year-over-year. Comparable-store sales rose 5.3%, powered by both higher ticket sizes and increased foot traffic. The company lifted its full-year earnings outlook to $28.36 to $28.80 per share.

GitLab was the sharpest decliner in the group, falling 5.83% to $31.82 during the session and dropping a further 5.63% after hours to $30.03, even after reporting first-quarter results that topped analyst estimates.

Read Next: What Jensen Huang’s Computex Keynote Means for AI Chip Stocks