Marvell, Flex enter S&P 500 on June 22, replacing 2 companies
What's new: Marvell shares rose 5% and Flex gained 4% after hours after S&P Dow Jones Indices set the reshuffle.
Marvell Technology and Flex will join the S&P 500 on June 22, replacing Pool Corp. and The Campbell's Company in the benchmark index. The move adds another semiconductor-linked name to the index as investors pour money into companies tied to the artificial intelligence buildout. Marvell, based in Santa Clara, California, makes chips and other components used in AI infrastructure. Flex, headquartered in Singapore, provides electronics manufacturing services and works with major tech customers including Apple and Nvidia. After the change was published, Marvell shares climbed 5% in extended trading and Flex rose 4%.