By Callum Keown
When Nvidia CEO Jensen Huang publicly claimed last month that Marvell Technology could become the next trillion-dollar chip stock he probably just didn't want to acknowledge the success of its major rival Advanced Micro Devices.
Or he genuinely thought Marvell, a company with a market capitalization of around $200 billion at the time and one that Nvidia is invested in, would beat AMD to join the exclusive club.
Either way, it looks like he's going to be proved wrong.
AMD is closing in on the milestone, and fast. The stock jumped 7.7% on Tuesday to close at an all-time high of $580.91 with a market capitalization of $947 billion. The move took the chip maker above JPMorgan and Walmart and made it the 13th largest U.S. company.
Three chip makers are more valuable than AMD. Nvidia has a market value of $4.7 trillion, Broadcom $1.8 trillion and Micron $1.3 trillion.
Marvell won't be next but who knows with this relentless chips rally? It may well get there eventually and Huang may be proved right eventually.
Write to Callum Keown at callum.keown@dowjones.com
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