Marvell Technology jumps 10% after news it will join the S&P 500 index
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- Marvell Technology will join the S&P 500 on June 22, per S&P Global.
- Marvell shares rose 10.4% after the announcement, lifting its YTD gain to 210%.
- Marvell has a $230 billion market cap and designs high‑performance chips for cloud, AI, enterprise networking, 5G, and automotive.
- Nvidia invested $2 billion in Marvell in March, and CEO Jensen Huang hailed Marvell as the “next trillion‑dollar company” at Computex Week.
- Marvell’s stock surged 32.5% on June 2, its biggest one‑day gain ever.
Why it matters: Investors in S&P 500 index funds will need to add Marvell, boosting demand for its stock, while the company gains visibility and capital for its AI‑chip expansion.
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