Marvell Technology (MRVL) ripped higher this morning as Nvidia’s chief executive Jensen Huang signalled the company could be “the next trillion-dollar opportunity” at the Computex conference in Taipei.

Marvell Technology's share price jumped more than 20% in out-of-hours trading after Nvidia's CEO praised the lesser-known chipmaker.

June 2 (Reuters) - Marvell Technology's shares surged more than 24% in premarket trading on Tuesday after Nvidia CEO Jensen Huang called the chipmaker the next "trillion-dollar company." Huang and Marvell CEO Matt Murphy were speaking at the Computex week in Taipei on Tuesday.

Marvell Technology shares jumped more than 20% on Tuesday after Nvidia Chief Executive Jensen Huang described the semiconductor company as the "next trillion-dollar company."

Jensen Huang has spent the past year repeating one number that keeps growing louder: humanoid robots represent a $40 trillion total addressable market for labor automation. That figure came up again on the Animal Spirits Talk Your Book episode on investing in the rise of the robots,

Nvidia's CEO is clearly bullish, describing an environment that should keep rewarding the chipmaker.

Jensen Huang's speech was jam-packed with new releases, including the RTX Spark which aims to reinvent the personal computer as we know it.

Shares of Broadcom (NASDAQ:AVGO | AVGO Price Prediction) are up 6% in Tuesday’s premarket session, trading near $486 after closing Monday at $459.97. Marvell Technology (NASDAQ:MRVL) stock is up 17% to around $257,