Marvell Technology shares jump over 15% on S&P 500 entry; up 250% in 2026
Marvell Technology’s shares surged 15.7% to $305 after its inclusion in the S&P 500 index on June 22, 2026, reversing prior losses and marking a 252% gain in 2026. The move reflects AI-driven demand for semiconductor firms, with Marvell forecasting $10 billion in custom chip revenue by 2029 and expanding through acquisitions like Celestial AI for $3.25 billion.
Marvell Technology’s stock jumped 15.7% to $305 on June 8, 2026, after the chipmaker was confirmed for inclusion in the S&P 500 index effective June 22. The Nasdaq-listed company’s addition follows its first GAAP profit in three months through December and across four consecutive quarters, clearing a key hurdle for index eligibility. The S&P 500 inclusion will force passive funds tracking the benchmark to purchase Marvell shares, further boosting its momentum amid AI-driven investor optimism. The company’s custom chip business, critical for cloud providers seeking alternatives to Nvidia’s AI processors, is projected to exceed $10 billion in revenue by fiscal 2029. Marvell’s rally comes after a 28% gain in premarket trading on June 7, spurred by Nvidia CEO Jensen Huang’s prediction that the company could become the ‘next trillion-dollar company.’ The stock has already delivered a 252% return in 2026, reversing a 23% decline in 2025, as AI infrastructure spending by tech giants fuels demand for semiconductors. The company has accelerated growth through acquisitions, including the $3.25 billion purchase of optical networking firm Celestial AI and the $540 million deal for interconnect technology provider XConn. Since March, Marvell’s shares have surged 107% over two months and another 47% in June, reflecting strong investor confidence in AI-linked chipmakers. The AI boom, triggered by OpenAI’s ChatGPT launch in 2022, has driven exponential demand for advanced chips, positioning Marvell as a key player in data-center infrastructure. Its recent performance underscores how semiconductor firms are reshaping major US stock indices, with increased weightings in benchmarks like the S&P 500.
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