Marvell’s stock is up 21% in morning action Wednesday and on track for its best day since it rose 32% on May 26, 2023. Read: Marvell’s stock rises on strong AI demand, but thi

Shares of Marvell Technology ( MRVL 23.69%) were surging today after the semiconductor maker posted better-than-expected results in its third-quarter earnings report, driven in part by strong AI demand and guidance. As of 1:03 p.m. ET, the stock was up 23.6% on the news.

Shares in Marvell Technology jumped in premarket trading Wednesday after the chipmaker posted strong quarterly results and issued a rosy outlook amid robust demand for its custom AI chips. Monitor these key chart levels.