Marvell stock pops 7% as Nvidia takes $2 billion stake, continuing run of similar bets

Nvidia announced a $2 billion investment in Marvell Technology, a semiconductor company that makes chips used in AI infrastructure, causing Marvell's stock to rise 7%. The investment ties the two companies together to build AI-focused technology and specialized chips called ASICs (application-specific integrated circuits, chips designed for particular tasks), as businesses scramble to meet growing demand for AI computing power.