Nvidia is establishing a significant portion of its AI research and development operations in India.

Nvidia chief executive Jensen Huang has called Marvell Technology the "next trillion-dollar company," highlighting the chipmaker's role in powering infrastructure behind artificial intelligence data centres. Speaking alongside Marvell CEO Matthew Murphy at the Computex trade show in Taipei, Huang's remarks were reported by CNBC and underscored Marvell's significance in the AI sector.

The endorsement had an immediate and dramatic impact on Marvell's valuation. Marvell shares surged 32.5 percent on Tuesday following Huang's comments, marking the company's biggest single-day gain on record and pushing the stock to a fresh all-time high. Marvell's market value now stands at more than $250 billion.

What makes the rally particularly notable for India is Marvell's growing semiconductor footprint in the country. More than one-fifth of Marvell's global workforce is based in India across Bengaluru, Pune, Hyderabad and Chennai, making it the company's largest base outside the United States. Over 1,700 Marvell engineers in India drive the company's AI chip innovation, according to the company and a DataQuest interview.