FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. REUTERS/Jeenah Moon/
(Reuters) - Shares of Marvell Technology soared about 23% on Friday after the chipmaker became the latest to project a big surge in revenue from the AI boom, days after larger peer Nvidia Corp signaled the huge potential for the technology.
The gains were set to add nearly $10 billion to Marvell's market value as investors chase exposure to AI to counter weakness in many technology companies' traditional services and products.
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