Marvell Technology Group Ltd. Headquarters, Santa Clara, California, September 6, 2024.
David Paul Morris | Bloomberg | Getty Images
marvel technologyThe chipmaker, which makes a variety of components and products needed for the artificial intelligence infrastructure boom, will join the S&P 500 on June 22, becoming the latest semiconductor company to be added to the benchmark.
flexThe electronics contract manufacturer will also be added to the index on June 22, according to a press release. Both companies will take turns pool coop and campbells company.
Marvell stock rose 5% in extended trading. The chipmaker saw a surge earlier this week. Nvidia CEO Jensen Huang said the company could become “the next trillion-dollar company” when discussing the partnership between the two chipmakers. Nvidia also invested $2 billion in the company.
Flex rose 4% in after-hours trading. The company provides manufacturing services to major technology companies including: apple And Nvidia.
The move highlights the growing importance of the technology sector in the stock market. Viva Systems, App Lovin, data dog, door dashand robin hood are other technology companies added to the index in recent years.
Headquartered in Santa Clara, California, Marvell was founded in 1995 to manufacture components for rotating disk drives. Flex, formerly known as Flextronics, is headquartered in Singapore but operates factories in both the United States and Asia.
