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Marvell Technology Inc (NASDAQ:MRVL) shares are trading higher on Monday. The stock is riding momentum from a strategic investment by NVIDIA Corp (NASDAQ:NVDA).
The Nasdaq rose 0.23% while the S&P 500 gained 0.17%.
• Marvell Technology stock is approaching key resistance levels. What’s behind MRVL new highs?
Nvidia Injects $2 Billion
Nvidia made a $2 billion equity investment in Marvell. This deal significantly deepens their NVLink Fusion partnership. It marks a “material escalation” in their collaboration, according to JPMorgan analyst Harlan Sur.
Expanding Custom Silicon Reach
The …
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