On June 3, GraniteShares 2x Long MRVL Daily ETF rose 28.28% in pre-market trading, trading at $240.2/share, with trading volume of $19.53 million. The leveraged ETF's surge reflects continued momentum in its underlying stock, Marvell Technology, which soared over 32% in the prior session.

The catalyst stems from Nvidia CEO Jensen Huang publicly endorsing Marvell Technology at the Computex trade show in Taipei, calling it the next trillion-dollar company. Huang appeared alongside Marvell CEO Matt Murphy, with both executives reaching consensus that connectivity represents the next decisive battleground for AI infrastructure. Marvell currently holds a market capitalization of approximately $254.4 billion, implying significant further upside to reach the trillion-dollar milestone.

Additionally, Marvell recently introduced the Teralynx T100, described as the industry's first 102.4-terabit-per-second switch built specifically for AI and cloud data-center infrastructure. The company's custom AI chip business is expected to generate over $10 billion in revenue by fiscal 2029, and Nvidia invested $2 billion in Marvell earlier this year, further cementing their partnership.

(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.)