Marvell Technology is celebrating news of its impending inclusion in the S&P 500 Index with a 9% jump in pre-opening trading on the Nasdaq.
Semiconductor manufacturer
The semiconductor manufacturer, a competitor of Broadcom, Nvidia, AMD and Intel, will be included in the index of the 500 largest US companies starting from June 22, as indicated late last week by S&P Global.
Marvell, which currently boasts a capitalization of around $250 billion, specializes in designing high-performance chips used in global network infrastructures for cloud computing, artificial intelligence, enterprise networks, 5G networks and automotive systems.
In late March, Nvidia announced a $2 billion investment in the company to jointly develop silicon photonics-based chips that deliver higher bandwidth and reduce power consumption.
The infrastructure boom
It is a golden moment for the US company. The record growth is driven solely by booming AI infrastructure and demand for data center chips. The group, in fact, closed the fiscal year 2026 with a record turnover of 8.195 billion dollars, an increase of 42% compared to the previous year. This positive trajectory was confirmed in its first quarter fiscal 2027 results (ending May 2026), in which Marvell reported record revenues of $2.42 billion (up 27.6% year-over-year) and earnings per share (non-GAAP EPS) of $0.80, beating estimates.
The prospects
The prospects for the following quarter indicate a further acceleration, with revenues estimated at 2.7 billion dollars, consolidating the company’s transition among the main players in the AI hardware supply chain and guaranteeing, as mentioned, its inclusion in the S&P 500 index starting from June 2026.