Marvell to Join S&P 500 After AI-Driven Profit Surge
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Marvell Technology will join the S&P 500 index later this month, replacing PoolCorp before June 22 trading.
- Marvell Technology reported a GAAP profit in its December quarter and over the sum of its most recent four quarters, meeting the profitability requirement for S&P 500 inclusion.
- Marvell Technology shares have more than tripled this year and rose about 29% this week, boosted by an AI‑fueled chip rally and a comment from Nvidia CEO Jensen Huang calling it the “next trillion‑dollar company.”
- Marvell Technology designs custom chips for cloud data‑centers and forecasts its custom chip business to exceed $10 billion in revenue by fiscal 2029.
- Marvell Technology’s addition to the S&P 500 will trigger buying from index funds and ETFs that track the index, as passive managers must hold constituents according to benchmark weights.
Why it matters: Index funds and ETFs tracking the S&P 500 will buy Marvell shares, boosting demand for the stock, while the company gains visibility and capital as AI chip demand expands, and PoolCorp loses its benchmark slot.
