Marvell shares climbed about 7% after a Bloomberg report said Amazon Web Services was in early talks related to Trainium AI chips, helping push the stock to a new record.

According to NS3.AI, Marvell hit an all-time high of $329.88 on June 17, 2026, before ending the session near $311.

KeyBanc also raised its price target on Marvell to $385 from $260.