Marvell Technology will replace PoolCorp on the S&P 500 on June 22, following an AI-fueled profitability surge that boosted its shares by nearly 6% in extended trading.

The Philadelphia semiconductor index, known as SOX, hit a record high as AMD, Marvell and other chip stocks rose.

Marvell Technology nears S&P 500 inclusion after its stock tripled in 2026, boosted by a Jensen Huang endorsement and surging AI chip demand.