<\/p>\n
What happened: <\/strong>Marvell Technology (MRVL<\/a>) stock surged 8% on Monday.<\/p>\n What’s behind the move: <\/strong>The semiconductor company, listed on Nasdaq, will officially join<\/a> the S&P 500 (^GSPC<\/a>) index on June 22.<\/p>\n Monday morning’s gains put Marvell on track to recover some of Friday’s losses following a market-wide sell-off. Marvell stock has rallied sharply in recent weeks, fueled in part by comments from Nvidia (NVDA<\/a>) CEO Jensen Huang, who described the chipmaker as “the next trillion-dollar company.<\/p>\n What else you need to know: <\/strong>The custom chipmaker’s market cap sat at around $230 billion on Monday, with shares up more than 210% year to date.<\/p>\n Last month, memory chipmakers Micron Technology (MU<\/a>), Samsung Electronics (005930.KS<\/a>), and SK Hynix (000660.KS<\/a>) all made headlines as they reached $1 trillion valuations for the first time.<\/p>\n Semiconductor stocks have been at the center of the artificial intelligence trade this year, pushing the broader markets to all-time highs.<\/p>\n Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <\/em>@ines_ferre<\/em><\/a>.<\/em><\/p>\n Click here for the latest technology news that will impact the stock market<\/strong><\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/p><\/div>\n