Story perspectives

Marvell Joins S&P 500, Nvidia Pledges $2 B

6/8/2026

Summary

Marvell Joins S&P

Marvell Technology entered the S&P 500 on June 22, sending its shares up 9%.
Fiscal Q1 revenue rose to $2.42 billion, a 28% YoY gain, with data-center sales up 27% and custom silicon sales doubling to $1.5 billion.
Nvidia pledged $2 billion, with CEO Jensen Huang calling Marvell a future trillion-dollar AI chip firm, analysts lifting price targets to $250 (Oppenheimer) and $321 (Stifel), and the stock up about 230% in 2026.

Summary

Broadcom Announces AI

Broadcom posted $7.18 billion Infrastructure Software revenue, up 9% YoY, and Semiconductor Solutions revenue jumped 79% YoY.
Management announced long-term AI capacity deals with Google, Anthropic, OpenAI and Meta through 2029, while analysts kept a “Strong Buy” rating and a $507.13 price target, implying 28% upside.
Despite the earnings beat, the market fell and the stock now trades at a price-earnings (PE) multiple above 81.8×, above its five-year average of 69.3×.

History

Historical Context

After being added to the S&P 500 in 2001, Nvidia’s GPUs drove the AI surge that lifted its market value to $2 trillion by March 2024. Holding about 92 % of the desktop GPU market in early 2025, the firm’s rise has spurred broader AI-chip investment across the semiconductor sector and a 7 % weighting in the S&P 500 by 2026.

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Marvell Joins S&P

Marvell Technology entered the S&P 500 on June 22, sending its shares up 9%.
Fiscal Q1 revenue rose to $2.42 billion, a 28% YoY gain, with data-center sales up 27% and custom silicon sales doubling to $1.5 billion.
Nvidia pledged $2 billion, with CEO Jensen Huang calling Marvell a future trillion-dollar AI chip firm, analysts lifting price targets to $250 (Oppenheimer) and $321 (Stifel), and the stock up about 230% in 2026.

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