Marvell Technology's stock rose by nearly 9 percent in premarket trading on Monday after S&P Global announced that the semiconductor company will be added to the S&P 500 index.
According to S&P Global, Nasdaq-listed Marvell Technology will join the S&P 500 on June 22. The index tracks the 500 largest publicly traded U.S. companies. Marvell shares were up about 9.5 percent in premarket trading, and the stock has gained roughly 210 percent year-to-date.
Alongside Marvell, electronics manufacturer Flex will enter the S&P 500, while Pool Corp and The Campbell's Company will be removed from the index.
Company profile and recent drivers
Marvell Technology has an approximate market capitalization of $230 billion. Founded in 1995 and headquartered in Santa Clara, California, the company designs high-performance semiconductors used in cloud services, artificial intelligence systems, enterprise networking, 5G infrastructure, and the automotive sector.
The stock had already received a strong boost earlier: at the Computex conference Nvidia CEO Jensen Huang stood alongside Marvell CEO Matthew Murphy and praised Marvell as a potential "next trillion-dollar company." Following that appearance, Marvell shares jumped 32.5 percent on June 2 — the largest one-day gain in the company's history.
Nvidia announced a $2 billion investment in Marvell in March, a move that further heightened investor interest. Huang has said the partnership will make it easier for partners to build on Nvidia's AI infrastructure.
Financials
In fiscal 2026 first quarter, Marvell reported $2.4 billion in revenue, beating analyst expectations. Management cited strong performance in the data center business and signaled further growth for the remainder of the year.
Why it matters
Inclusion in the S&P 500 can trigger automatic purchases by index funds and ETFs, typically increasing demand for the stock in the near term. Marvell's S&P 500 addition, combined with the Nvidia partnership and its recent financial results, helps explain the rapid rise in its share price.
This article is not investment advice or a recommendation.
