AI rallies lift chipmakers to fresh yearly highs: Marvell, Broadcom, Navitas
Marvell Technology surged to an all-time intraday high near $324.20 on AI demand and Nvidia’s $2 billion investment, sparking S&P 500 inclusion chatter; Broadcom rose to a yearly high around $495 ahead of its Q2 results but closed modestly lower after guiding for the next quarter below expectations; Navitas Semiconductor jumped to a yearly high around $34.17 following Nvidia’s Computex showcase and a collaboration in the MGX power-delivery ecosystem, helping NVTS rally about 268% in 2026. The moves reflect a broader semiconductor upcycle driven by AI workloads, even as Broadcom’s cautious outlook tempered gains.
