Marvell Technology and Flex to join S&P 500 index, replacing Pool and Campbell's
Marvell Technology and Flex will join the S&P 500 index on June 22, replacing Pool Corp and The Campbell's Company. Marvell, a chipmaker focused on AI infrastructure, saw its stock rise 5% following positive remarks from Nvidia's CEO. Flex, a contract manufacturer, also experienced a stock increase of 4% and provides services to major tech firms like Apple and Nvidia.
- ▪Marvell Technology is joining the S&P 500 on June 22.
- ▪Flex will also be added to the index on the same date.
- ▪Marvell's stock rose 5% after Nvidia's CEO praised its potential.
- ▪Flex provides manufacturing services to leading technology companies.
- ▪The addition of these companies highlights the growing importance of the technology sector.
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Marvell Technology, a chipmaker that makes several different parts and products needed for the artificial intelligence infrastructure boom, is joining the S&P 500 on June 22, becoming the latest semiconductor company to be added to the benchmark. Flex, a contract manufacturer for electronics, will also be added to the index on June 22, according to a press release. The two companies will replace Pool Corp and The Campbell's Company.Marvell stock rose 5% in extended trading. The chipmaker was boosted earlier this week when Nvidia CEO Jensen Huang said it could be the "next trillion-dollar company" when discussing the two chipmakers' partnership. Nvidia also invested $2 billion into the company.Flex rose 4% in extended trading.
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