On June 3, GraniteShares 2x Long MRVL Daily ETF rose 9.26% in after-hours trading, trading at $209.98/share, with trading volume of approximately $18.56 million. The move extends massive gains in the underlying Marvell Technology stock.

The catalyst behind the surge traces to Nvidia CEO Jensen Huang publicly calling Marvell the next trillion-dollar company during Computex 2026 in Taipei on June 2. Huang appeared alongside Marvell CEO Matt Murphy, emphasizing that connectivity is becoming the defining bottleneck in AI infrastructure. Marvell shares surged approximately 29% during regular trading on June 3, with over 76 million shares traded versus a daily average of 27.6 million.

The endorsement follows Nvidia's $2 billion strategic investment in Marvell earlier this year and their joint NVLink Fusion collaboration. Marvell recently reported Q1 fiscal 2027 revenue of $2.418 billion, up 28% year-over-year, and raised its fiscal 2028 revenue outlook to $16.5 billion, with optical interconnect business projected to grow over 70% by fiscal year-end.

(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.)