How Nvidia’s Partnership Is Creating Momentum for Marvell Technology Stock

On the April 6, 2026, episode of The Morning Filter podcast, David Sekera and Susan Dziubinski discuss Marvell Technology’s MRVL big news, and whether cybersecurity stocks are at risk today. Here is an excerpt from the show.

Nvidia’s Partnership With Marvell

**Dziubinski: **Let’s move on to some new research from Morningstar. Marvell Technology stock was up more than 12% last week after Nvidia NVDA took a $2 billion stake in the company. Now, Marvell has been a pick of yours in the past. What did Morningstar make of the news? Any changes to the fair value estimate on the stock?

**Sekera: **The news specifically was that Nvidia announced a partnership with Marvell and that Nvidia would invest, I think, $2 billion into Marvell. What’s going on is they’re going to end up pairing Marvell’s custom AI chips with Nvidia’s networking products. From our point of view, this is a good endorsement of Marvell’s products by Nvidia. This is one where the market has had a lot of concerns about Marvell’s products in the past. A lot of people were writing about how they thought that they were losing market share to some of their competitors. We didn’t think that was true. If anything else, I think this is just good support for what our investment thesis has been on this company.

Marvell: Nvidia Partnership Endorses XPU Strategy, and There’s More Upside from Here

This announcement fits with our bullish XPU growth expectations over the next five years.

Is Marvell Stock a Buy?

**Dziubinski: **Do you still think Marvell’s stock is a buy?

**Sekera: **It is. I mean, it’s still a 4-star-rated stock, trades at an 18% discount. Unfortunately, it’s not anywhere near as undervalued as it’s been in the past when we had recommended it. In fact, if you look at, based on the uncertainty rating and where it’s trading, it’s really just barely in that 4-star territory at this point. Again, I think there’s going to be some pretty good momentum here in the short term, but that momentum probably moves it into 3 stars pretty quickly.

How AI Threats Could Increase Cybersecurity Demand

**Dziubinski: **Let’s stick with the technology theme for a minute. Cybersecurity stocks pulled back in late March on word that Anthropic’s Mythos model is much better than existing models at finding cyber vulnerabilities. Given that, Dave, does Morningstar think this new model poses a risk to cybersecurity firms?

**Sekera: **We don’t see the risk being in the cybersecurity firms that we cover. I think the risk is in those cyber companies whose job really is to identify potential vulnerabilities to cyber hacks for companies, as opposed to those companies that actually provide the cybersecurity. In fact, our analyst just noted, he thinks this just exemplifies the investment thesis that he’s noted a couple of times why we think AI actually makes cybersecurity ever more important. In this case, it identifies how AI can be used to identify those different areas that could be at risk and shows how AI is actually increasing the attack surface area. Overall, we think this actually leads to an increase in cybersecurity demand to offset these AI threats.

Anthropic’s Mythos Model’s Security Capabilities Are Going to Increase Demand for Cybersecurity

Subscribe to The Morning Filter on Apple Podcasts_, or wherever you get your podcasts, and keep up with the latest research from hosts_ Susan Dziubinski_ and_ David Sekera_ on_ Morningstar.com_._

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			35m 6s
		 Apr 6, 2026

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