Marvell CEO Matt Murphy said Marvell’s custom revenue could be “a lot larger” than Wall Street is currently modeling, particularly from fiscal 2029 onward.

Raymond James raised its Nvidia price target to $515 from $352, implying a market value of roughly $12.4 trillion if it reaches that level.

During the Nvidia earnings call, CEO Jensen Huang called investments in leading AI companies a “once in a generation opportunity” and said his only “regret” was not investing more and sooner.

Semiconductor ETFs rallied following Nvidia’s results, with SOXX and SMH both gaining in early morning trade.

In an interview with CNBC, Cantor Fitzgerald’s C.J. Muse said investor positioning could support NVDA stock, with many hedge funds and long-only investors still underweight the shares.

In an interview with CNBC, BofA analyst Vivek Arya said investors are likely to pay closer attention to how Nvidia deploys the enormous cash it generates than to the earnings themselves.

Wall Street expects Marvell to report adjusted earnings of $0.93 per share on revenue of $2.7 billion for the second quarter.

Nvidia also said on Monday that its Groq 3 LPX inference accelerator is now in full production for the Vera Rubin platform.

According to BMO Capital, Nvidia’s potential upside doesn’t lie in its leadership alone, but also in being a ‘leading supporter’ of the AI ecosystem.