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Or sign-in if you have an account.Marvell is among several semiconductor companies enjoying gains this week from the renewed euphoria around the AI boom. Photo by Cheng Chia Huang/Getty ImagesMarvell Technology Inc. shares surged after Nvidia Corp.’s Jensen Huang predicted the semiconductor and networking company will be the next business to hit a US$1 trillion valuation, more than five times its current market capitalization.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorMarvell’s valuation will soar now that the age of “useful AI has arrived,” Huang, the chief executive officer of the largest publicly traded company, said Tuesday at Computex trade show in Taipei alongside Marvell chief executive Matt Murphy. Nvidia has something to gain in saying so: The chip giant took a US$2 billion stake in Marvell three months ago as part of a broader partnership.Marvell jumped 25 per cent to US$274.58 at 9:45 a.m. in New York, the biggest intraday gain since May 2023. The stock has risen about 222 per cent this year, giving the Santa Clara, California-based company a market value of US$239 billion.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againSurging demand for artificial intelligence and the data centres needed to train and run models is boosting the chip industry. The biggest tech companies, such as Amazon.com Inc., Alphabet Inc. and Microsoft Corp. have pledged to spend hundreds of billions of dollars to build data centre capacity and invest in AI. Demand for products like OpenAI’s ChatGPT and Anthropic PBC’s Claude have created a gold rush to capture market share for the infrastructure supporting the new technology.Marvell is among several semiconductor companies enjoying gains this week from the renewed euphoria around the AI boom.Memory chipmaker SK Hynix Inc. plans to double memory chip production capacity to easy a supply crunch. STMicroelectronics NV nearly doubled its forecast for revenue from data centres in 2026, and said the sales could double again next year. Chip designer Arm Holdings PLC expects to hit a target of US$15 billion in sales for semiconductors earlier than anticipated because of demand from the AI boom, chief executive Rene Haas said.Nvidia has ridden the AI wave better than any other company, becoming the primary supplier of the GPU chips used for AI. Its shares have gained more than 1,400 per cent since 2023, valuing the company at US$5.5 trillion.About 15 companies had market values exceeding US$1 trillion as of Monday, according to data compiled by Bloomberg. All of them, with the exception of Saudi Arabian Oil Co., drugmaker Eli Lilly & Co. and Berkshire Hathaway Inc., are tech companies.—With assistance from Edwin Chan. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.