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.)