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The Economic Times

Technology

Marvell to join S&P 500 after AI boom helps chipmaker pass profitability test

Marvell Leroy Leo Nvidia

Marvell Technology is set to join the benchmark S&P 500 later this month, S&P Dow Jones Indices said on Friday, after the chipmaker cleared a key profitability hurdle riding an AI-fueled rally.

The company will replace swimming pool equipment distributor PoolCorp on the benchmark index before the start of trading on ‌June 22. Marvell ⁠shares ⁠jumped nearly 6% in extended trading.

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