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marvel technology It rose nearly 9% in premarket trading on Monday after the AI chipmaker announced it would join the benchmark. S&P500 index.
Semiconductor companies traded in NasdaqS&P Global said in a press release Friday that it will join the broad market index on June 22, joining the 500 largest U.S. companies. Marvell is up 8.8% in pre-market trading and is up 210% year-to-date.
Electronics manufacturer Flex is also on the list of companies joining the S&P 500 later this month. pool coop and campbells company removed from the index.
Marvell, which has a market capitalization of $230 billion, specializes in designing high-performance chips used in global data infrastructure, including cloud computing, AI, enterprise networking, 5G carrier networks, and automotive systems.
The company is headquartered in Santa Clara, California and was founded in 1995.
NVIDIA”Marvel CEO Jensen Huang appeared on stage with Marvel CEO Matthew Murphy at Computex Week in Taipei last week, touting the company as “the next trillion-dollar company.” The following day, on June 2, the company soared 32.5%, its biggest single-day gain ever.
