New Delhi, June 2 -- Shares of Marvell Technology soared 23% to $270 in US premarket trading after Jensen Huang predicted that the semiconductor and networking company could become the "next trillion-dollar company".

The stock had already closed 7% higher at $219.43 on Monday. So far this year, Marvell shares have delivered stellar gains, surging 158% and lifting the Santa Clara, California-based company's market capitalisation to nearly $192 billion. If the premarket rally sustains after the opening bell, the company could record its biggest intraday jump since March.

Marvell's valuation could surge further now that the age of "useful AI has arrived," Huang, the chief executive officer of Nvidia Corporation, said on Tuesday at the Comp...