Marvell Technology shares rose more than 7% to an intraday high of $223.67 after Nvidia confirmed its $12.9 billion acquisition of open-source artificial intelligence platform Hugging Face. Marvell benefited from broader AI semiconductor momentum and its close relationship with Nvidia, which holds a $2 billion equity position in the company. The two firms also collaborate on silicon photonics and platform interoperability, allowing enterprise customers to use Marvell’s XPU solutions within Nvidia’s NVLink infrastructure. Marvell’s latest results added to the rally: second-quarter revenue reached a record $2.74 billion, up 37% from a year earlier, while Data Center revenue rose 46% to $2.17 billion. Management raised its Fiscal 2027 revenue outlook to $12 billion and set Fiscal 2028 guidance at $18 billion. Analysts retain a Strong Buy consensus, with a $302.33 average price target implying about 35% potential appreciation.