Stock Market Today, June 17: Marvell Rises as AI Bookings Build on Nvidia-Linked Momentum
Marvell’s custom AI chips and optical-networking exposure give investors a clearer data-center growth angle, with the next test tied to whether demand for custom chips and optical networking will translate into sales and profit growth.
Stock Market Today, June 17: Marvell Rises as AI Bookings Build on Nvidia-Linked Momentum
Overview
Marvell Technology (NASDAQ:MRVL), a data infrastructure semiconductor provider, closed at $289.54, up 3.90%. Premarket comments from Nvidia's CEO and a new $2 billion AI chip alliance lifted the stock, while investors are watching AI bookings and data-center demand next.
The company’s trading volume reached 48.6M shares, which is about 38% above its three-month average of 36.1M shares. Marvell Technology IPO'd in 2000 and has grown 1,932% since going public.
Details
S&P 500 (SNPINDEX:^GSPC) closed at 7,420.10, down 1.19%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,021.66, down 1.34%. Among semiconductor and data infrastructure peers, Broadcom (NASDAQ:AVGO) closed at $392.90, up 4.30%, while Nvidia (NASDAQ:NVDA) closed at $204.65, down 1.33%, highlighting a mixed session across the sector.
Source
Originally published at www.fool.com.
