Marvell Technology Inc. and Flex Ltd. are poised to join the ranks of the S&P 500, marking a significant milestone for both companies and reflecting the ever-growing importance of technology in the U.S. stock market. The announcement, made by S&P Dow Jones Indices on June 5, 2026, revealed that these two technology-driven firms will replace Pool Corporation and The Campbell’s Company in the benchmark index before the start of trading on June 22, 2026.
The move comes as part of the S&P 500’s quarterly rebalancing, a routine shakeup designed to ensure the index accurately represents the most valuable and influential companies in the U.S. economy. According to Bloomberg, Marvell Technology, a Santa Clara-based semiconductor powerhouse founded in 1995, and Flex, a global electronics manufacturer headquartered in Singapore, will take over the spots currently occupied by Pool Corp. and Campbell’s. The transition is set to take effect prior to the market’s opening bell on Monday, June 22.
The announcement sent shockwaves through the market, with Marvell’s stock leaping 6% in after-hours trading, as reported by Investing.com. Flex shares also jumped, climbing 4% in extended trading. This surge came at the end of a volatile week for Marvell, which had experienced a dramatic 16.7% drop during regular Friday trading hours, only to rebound on the back of its impending S&P 500 inclusion. Despite the rollercoaster, Marvell’s shares ended the week with an impressive 28.5% gain.
Several factors have fueled Marvell’s meteoric rise. The company, once known for producing components for spinning disk drives, has reinvented itself as a key player in the artificial intelligence (AI) infrastructure boom. Its chips are now in high demand for powering data centers and cloud computing—a sector that’s experiencing explosive growth as tech giants scramble to keep up with the demands of AI workloads. According to Reuters, Marvell’s shares have more than tripled since the start of 2026, riding the wave of AI-fueled optimism that has lifted the entire semiconductor sector.
Industry confidence in Marvell reached a fever pitch earlier this week when Nvidia CEO Jensen Huang publicly called Marvell the “next trillion-dollar company.” That bold endorsement, delivered during the week of June 1-5, 2026, was accompanied by a $2 billion investment from Nvidia into Marvell, as reported by CNBC. The partnership between the two chipmakers has only added to investor enthusiasm, with many now viewing Marvell as a central figure in the ongoing AI revolution.
Wall Street analysts have also taken note. Stifel, a major investment firm, raised its price target for Marvell to $321 per share (up from $230), citing CEO Matt Murphy’s keynote at Computex as a “high-production reaffirmation of the data-infrastructure thesis we have underwritten for some time.” The company’s financial outlook is equally robust: in its most recent quarterly earnings, Marvell forecasted that its custom chip business would surpass $10 billion in revenue by fiscal 2029.
Marvell’s inclusion in the S&P 500 is more than just a symbolic win. Historically, joining the index provides a significant boost to a company’s stock, as index-tracking funds and exchange-traded funds (ETFs) are required to buy shares to match the S&P’s composition. This influx of institutional investment often translates into upward pressure on the company’s share price and greater visibility among investors.
Flex, meanwhile, is no stranger to the world’s technology supply chains. Formerly known as Flextronics, the company operates manufacturing facilities across the U.S. and Asia, providing critical services to industry leaders like Apple and Nvidia. Its addition to the S&P 500 underscores the growing recognition of contract manufacturing’s role in the global tech ecosystem. As CNBC notes, Flex’s ability to serve giants in both consumer electronics and advanced computing has made it an indispensable part of the supply chain, and its stock’s 4% after-hours jump reflects investor confidence in its future prospects.
The changes to the S&P 500 are not occurring in isolation. The broader index shakeup will also see other notable moves: Roku Inc. is set to join the S&P MidCap 400, while companies like Warby Parker and Liquidia Technologies will be added to the S&P SmallCap 600. Conversely, underperforming constituents such as Gogo and Vital Farms are being removed to maintain the benchmarks’ representation of their respective market capitalization ranges, according to Investing.com.
For Pool Corp. and The Campbell’s Company, the transition means a step down to the S&P SmallCap 600, a move that reflects the changing fortunes and market capitalizations of these firms. Pool’s stock dipped 1.2% in late trading following the announcement, while Campbell’s shares held steady.
Marvell’s path to the S&P 500 was not without hurdles. The company had previously been excluded from the index due to profitability requirements. However, after reporting GAAP profits in the three months through December 2025 and over its most recent four quarters, Marvell finally cleared the key barrier for inclusion, as highlighted by Reuters. Its market value stood at approximately $276.81 billion as of June 5, 2026, cementing its status as a heavyweight in the chip industry.
The broader context for these changes is the AI boom that’s reshaping not only the technology sector but also the composition of major U.S. equity benchmarks. As investors continue to bet on sustained demand from cloud providers and AI workloads, companies like Marvell and Flex are commanding increasingly large weights in the S&P 500. Other recent additions to the index, such as Veeva Systems, AppLovin, Datadog, DoorDash, and Robinhood, further illustrate the market’s shift toward technology and innovation-driven firms.
Both Marvell and Flex are expected to benefit from the increased attention and investment that comes with S&P 500 membership. The move is likely to reinforce their positions as leaders in their respective fields—semiconductors and electronics manufacturing—while also serving as a testament to the transformative power of AI and digital infrastructure in today’s economy.
As June 22 approaches, all eyes will be on Marvell and Flex to see how they handle their new status among the market’s elite. Their inclusion in the S&P 500 not only marks a personal victory for each company but also signals a broader shift in the market’s priorities, where technology and innovation are increasingly at the center of economic growth and investment.