Movement Alert｜GraniteShares 2x Long MRVL Daily ETF Surges 56.62% in Regular Trading, Nvidia CEO Calls Marvell Next Trillion-Dollar Company

Market Focus06-02 23:31

On June 2, GraniteShares 2x Long MRVL Daily ETF surged 56.62% in regular trading, trading at $179.85/share, with trading volume of $719 million. As a 2x leveraged ETF tracking Marvell Technology, the fund amplified MRVL's sharp rally driven by a major endorsement from Nvidia CEO Jensen Huang.

At the Computex trade show in Taipei, Huang stated that Marvell Technology will become the next trillion-dollar company, more than five times its current market capitalization of approximately $192 billion. Huang highlighted that the era of useful AI has arrived, with data center connectivity becoming the next critical bottleneck, making Marvell's networking and interconnect solutions essential. Nvidia invested $2 billion in Marvell earlier this year to deepen their strategic partnership.

The endorsement follows Marvell's strong fiscal Q1 2027 results reported days earlier, with record revenue of $2.42 billion, up 28% year-over-year, and raised full-year guidance citing exceptional AI-related order momentum. Management confirmed custom chip annual revenue is on track to exceed $10 billion by fiscal 2029.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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