5 Stocks Delivering Massive Returns

3. Marvell Technology Inc. (NASDAQ:MRVL)

Marvell Technology climbed to a new all-time high on Tuesday as investors took heart from Nvidia Corp. CEO Jensen Huang’s optimism that it could become the next trillion-dollar company.

In intra-day trading, the stock soared to its highest price of $291.30 before paring gains to end the session just up by 32.52 percent at $290.79 apiece.

Huang said in an onstage appearance at the Computex Week in Taipei, Taiwan, on Monday that Marvell Technology Inc. (NASDAQ:MRVL) could become the “next trillion-dollar company” amid its networking and connectivity chips essential to the data centers where computing tasks are spread across thousands of connected chips that need to share data quickly.

“When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity…that’s the reason why Marvel is so essential,” Huang said.

Optimism was further supported by Nvidia’s earlier backing of Marvell Technology Inc. (NASDAQ:MRVL), having invested $2 billion in the latter and joined forces to connect their technology through NVIDIA NVLink Fusion, offering customers building on the Nvidia infrastructures a greater choice and flexibility in developing next-generation infrastructure.

The companies are also collaborating on the development of silicon photonics technology.