Nvidia CEO Jensen Huang heaped praise on Hyundai's robotics and said the two companies will broaden their partnership — a significant endorsement from the AI kingmaker in a rapidly emerging space.

Why it matters: Hyundai's Boston Dynamics division is racing with the world's leading robotics companies — including Tesla — to deliver groundbreaking humanoids.

Zoom in: Huang said during a trip to South Korea that Nvidia and Hyundai will expand their alliance to pursue advancements in mobility, manufacturing and robotics, several outlets reported.

• "Hyundai is incredible at manufacturing, incredible at mobility, incredible at heavy industries, manufacturing at extremely large scales," Huang told reporters, according to Bloomberg. "No one is in a better position to take advantage of that and to create that than Hyundai."
• He reportedly said Nvidia and Hyundai are "very very close" to industrializing robotics.

Friction point: The remarks could sting for Huang ally Elon Musk, who has crowed that Tesla's Optimus humanoid is significantly more advanced than the competition.

• It "will be the biggest product ever of any kind," Musk said in 2024 — a sentiment he's repeatedly expressed since then.

State of play: Hyundai plans to mass-produce humanoid robots in Georgia. The robots will be placed in factories to work alongside humans building cars, Axios Future of Mobility author Joann Muller reported in January.

• The road map includes a plan to manufacture 30,000 Atlas humanoid robots a year by 2028 at its sprawling high-tech "Metaplant" near Savannah and then integrate them into its factories and warehouses worldwide.

Just when chip stocks needed a pick-me-up, Marvell Technology got one.

• The stock soared 9.6% today — a sharp rebound after a broader tumble for the chips sector last week sparked by Broadcom's disappointing outlook and a May jobs report that sent bond yields higher.

The catalyst: S&P Dow Jones Indices announced after the bell Friday that Marvell would join the S&P 500 Index beginning June 22.

• Flex, a contract electronics manufacturer, is also joining.

Out are The Campbell's Company — an original member of the index when it was known as Campbell Soup — and swimming pool distributor Pool Corp.

The impact: Stocks generally get a bump when added to the S&P 500 because index funds are forced to buy the shares.

• Several other chip stocks also rebounded today, including Intel, Broadcom and Nvidia.

⚖️ FTX co-founder Sam Bankman-Fried formally applied for a presidential pardon with the DOJ's pardon attorney office. (Bloomberg)

🌍 A $100,000 fee that President Trump imposed on employers for H-1B visa petitions is unlawful, a federal judge ruled. (Axios)

🥄 Bending Spoons filed for a U.S. IPO that could fetch around a $20 billion valuation. This would be a return to the public markets for AOL, Eventbrite and Vimeo, all now owned by the Italian holding company. (Axios)

The World Cup is just what the doctor ordered for the beer industry.

⚽️ Zoom in: Soccer fans — err, football fans — are expected to drink an extra 1 billion pints globally during the quadrennial tournament, FT reports based on Jefferies estimates.

• That reflects a 3% boost during the 39-day event.
• It apparently helps that many of the matches will be played during peak drinking hours in the U.S. and in Europe.

🍺 State of play: Booze makers have been struggling with declining drinking for years amid growing awareness of the health consequences of imbibing.

💭 Nathan's thought bubble: I'm not sure if there will be more drinking while each country's team still has a chance — or after they're eliminated.