Stock Market Update

[BRIEFING.COM] The major averages remain near record highs at midday.

Marvell (MRVL 282.89, +63.46, +28.92%) is surging to record highs of its own after NVIDIA (NVDA 225.52, +1.16, +0.52%) CEO Jensen Huang delivered a rare and powerful endorsement at Computex in Taipei, calling Marvell the "next trillion-dollar company." Huang framed Marvell as essential to the AI buildout because the bottlenecks are shifting from raw compute to memory, data movement, and connectivity across massive data centers. He also highlighted the move from copper cabling to optical communications and silicon photonics, saying Marvell's leadership in optical networking chips and custom AI accelerators makes it a critical piece of the AI stack.