Stock Market Today, March 31: Marvell Technology Surges After Nvidia Invests $2 Billion in AI Partnership
Marvell Technology (NASDAQ:MRVL), data infrastructure semiconductor provider, closed Tuesday at $99.05, up 12.8%. The stock jumped after Nvidia (NASDAQ:NVDA) announced a $2 billion equity investment and expanded AI infrastructure partnership. Investors will be watching how the tie-up translates into sustained AI data center-related sales growth for both companies.
Trading volume reached 50.9 million shares, coming in about 194% above its three-month average of 17.3 million shares. Marvell Technology IPO'd in 2000 and has grown 595% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) advanced 2.92% to 6,529, while the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 3.83% to finish at 21,591 as growth stocks outperformed. Among semiconductors and related devices, industry peers Broadcom (NASDAQ:AVGO) closed at $309.51 (+5.49%) and Qualcomm (NASDAQ:QCOM) finished at $128.78 (+1.35%), underscoring broad strength in AI-focused chipmakers.
What this means for investors
Adding to a string of $2 billion investments to help expand its AI dominance, Nvidia agreed to invest that amount in Marvell as the companies also announced a strategic partnership. Marvell’s data center connectivity solutions will tie into Nvidia’s AI factory offerings through its NVLink Fusion™ rack-scale platform.
The partnership will boost Marvell’s role in AI infrastructure, driving investors to bid up its shares today. That will help funnel more of the massive spending on data center infrastructure to Marvell.
Earlier this month, Marvell reported fiscal 2026 revenue soared 42% year over year driven by strong AI demand. Today’s news has investors thinking that growth can continue.
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Howard Smith has positions in Broadcom and Nvidia and has the following options: short April 2026 $180 calls on Nvidia. The Motley Fool has positions in and recommends Marvell Technology, Nvidia, and Qualcomm. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.
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