Marvell stock pops 11% as Nvidia takes $2 billion stake, continuing run of similar bets
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In this article CRWV Follow your favorite stocks CREATE FREE ACCOUNT Jonathan Raa | Nurphoto | Getty Images Shares of Marvell Technology surged more than 11% after Nvidia announced plans to invest $2 billion in the semiconductor company. As part of the deal, Marvell will join Nvidia's AI ecosystem, making it easier for customers to build on the infrastructure. Both companies will also join forces on silicon photonics technology and telecommunications networking. "The inference inflection has arrived. Token generation demand is surging, and the world is racing to build AI factories," said Nvidia CEO Jensen Huang said in a release "Together with Marvell, we are enabling customers to leverage NVIDIA's AI infrastructure ecosystem and scale to build specialized AI compute." Read more CNBC tech news Nebius unveils plans to build one of Europe's largest AI factories as region scrambles for compute Micron shares have cratered 30% since the memory maker reported blowout earnings Delaware judge reassigns Elon Musk cases after accusation of bias Palo Alto shares pop as CEO Nikesh Arora buys stock for first time in years Nvidia has made a string of $2 billion investments in technology companies over the last few months. Those investments include Synopsys , CoreWeave , Coherent and Lumentum . The AI chipmaking leader most recently invested $2 billion in Nebius Group earlier this month. Tune in at 9 a.m. ET as Nvidia CEO Jensen Huang joins joins CNBC's "Squawk on the Street" to talk about the deal. Watch in real time on CNBC+ or the CNBC Pro stream. This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a con...
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