Marvell Technology has been knocking on the door of the S&P 500 for a while now. After tripling in value this year and hitting a record close of $301.65 on June 4, the chipmaker isn’t knocking anymore.

With a market capitalization somewhere between $254 billion and $264 billion, Marvell dwarfs the next largest eligible candidate for S&P 500 inclusion, Bloom Energy, which sits at roughly $82 billion. The index committee’s anticipated announcement around June 6 could finally end one of the more puzzling omissions in recent index history.

How Marvell got here: Huang, Amazon, and the AI infrastructure boom

The catalyst for Marvell’s most explosive move came from Nvidia CEO Jensen Huang. Speaking at Computex Taipei 2026, Huang described Marvell as a candidate for becoming a “trillion-dollar company.” The stock responded with a gain exceeding 25% in a single session, sparking a multi-day rally that at points topped 50%.

But the Huang endorsement wasn’t the only accelerant. Marvell had already been building momentum through an expanded partnership with Amazon and a string of strong earnings reports. The company’s focus on custom AI accelerators and high-speed connectivity solutions has positioned it squarely in the sweet spot of what hyperscale cloud providers are spending billions to build out.

The June 4 close of $301.65 represented a 3.7% gain for the day, coming on the heels of a 33% jump the previous session.

The S&P 500 snub that couldn’t last

Marvell was passed over during prior rebalancing cycles in late 2025, even when it was the largest eligible firm not yet in the index. The S&P 500 selection committee, which operates with some discretion beyond pure market cap rankings, apparently wasn’t convinced at the time.

What S&P 500 inclusion means for investors

When a stock enters the S&P 500, every passive fund that tracks the index must buy shares to match the new composition. This forced buying creates demand that typically pushes the stock price higher in the days and weeks surrounding the announcement and effective date.

Marvell operates in a semiconductor segment where Broadcom, which has long been in the S&P 500, competes directly in custom AI silicon. Nvidia remains the gravitational center of the entire AI hardware ecosystem. What differentiates Marvell is its focus on networking chips and custom accelerators that tie compute clusters together.

There’s also a crypto angle worth noting. The Marvell tokenized stock, trading as MRVLX, offers blockchain-native investors a way to gain exposure to the company’s trajectory.