This 'next trillion-dollar company' has significant ties to India
What's the story
NVIDIA CEO Jensen Huang has dubbed Marvell Technology the "next trillion-dollar company," highlighting its pivotal role in powering AI data center infrastructure. The statement was made at the Computex trade show in Taipei, alongside Marvell CEO Matthew Murphy. Following Huang's remarks, Marvell's shares skyrocketed by 32.5% on Tuesday, the company's largest single-day gain ever, pushing its market value to over $250 billion.
Indian operations
Marvell's engineering operations in India
A major part of Marvell's engineering work is being done from India, with over 20% of its global workforce based in Bengaluru, Pune, Hyderabad, and Chennai. This makes India the company's largest base outside the US. The expansion is centered around Marvell's 100,000 sq ft innovation hub in Pune where engineers are working on custom AI chips and advanced semiconductor research.
AI infrastructure
Marvell v/s NVIDIA
Unlike NVIDIA, which specializes in AI processors for training large language models, Marvell concentrates on the networking and connectivity layer inside AI data centers. These systems enable fast data transfer between thousands of interconnected chips. "When you take a computing problem, and you distribute it across the entire data center, what's necessary is connectivity," Huang said at the event.
Strategic alliance
Marvell's business and partnership with NVIDIA
Marvell designs custom AI chips, networking silicon, interconnects, Ethernet solutions, and storage controllers for cloud computing and AI infrastructure. Its data center-related business accounted for over 74% of its fiscal 2026 revenue. On March 31, NVIDIA and Marvell announced a partnership to integrate Marvell into NVIDIA's NVLink Fusion ecosystem. The same day, NVIDIA also invested $2 billion in Marvell through a Series A Convertible Preferred Stock issuance.
Market expansion
Custom chips trend and acquisitions
There is a larger trend in the AI hardware market, where big cloud companies are increasingly designing custom chips to lessen their dependence on NVIDIA's GPUs. Marvell has been one of the biggest beneficiaries of this trend, helping hyperscalers design specialized AI silicon and networking infrastructure. Earlier this year, Marvell also acquired Celestial AI and XConn Technologies to bolster its optical connectivity and switching capabilities.