S&P Dow Jones Indices said on June 5 that Marvell Technology will join the S&P 500 before trading opens on June 22, replacing Pool Corp., after the US chipmaker met the index’s profitability requirement.

Marvell shares rose nearly 6% in extended trading. Flex, a Singapore-headquartered contract manufacturer, will also join the index, replacing Campbell’s.

Marvell became eligible after it reported a profit under generally accepted accounting principles, or GAAP, for the three months through December and for the latest four quarters combined.

Its stock has more than tripled this year as investors bet AI demand will lift sales of custom chips for cloud companies’ data centers.

The addition could also trigger buying by funds that track the index.

Pool Corp. and Campbell’s are set to move to the S&P SmallCap 600, showing the reshuffle also reflects market-cap alignment across S&P indexes.

🔗 Source: Reuters

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