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Shares of Marvell Technology surged more than 11% after Nvidia announced plans to invest $2 billion in the semiconductor company.
As part of the deal, Marvell will join Nvidia's AI ecosystem, making it easier for customers to build on the infrastructure. Both companies will also join forces on silicon photonics technology and telecommunications networking.
"The inference inflection has arrived. Token generation demand is surging, and the world is racing to build AI factories," said Nvidia CEO Jensen Huang said in a release "Together with Marvell, we are enabling customers to leverage NVIDIA's AI infrastructure ecosystem and scale to build specialized AI compute."
Tune in at 9 a.m. ET as Nvidia CEO Jensen Huang joins joins CNBC's "Squawk on the Street" to talk about the deal. Watch in real time on CNBC+ or the CNBC Pro stream.
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