Chipmaker Marvell Technology will be added to the S&P 500 (the benchmark index tracking America's 500 largest publicly listed companies) on June 22, replacing pool equipment distributor PoolCorp, after meeting the index's profitability requirements for the first time. The company recently recorded a GAAP net profit over its most recent four quarters, a threshold that had previously barred its inclusion, aided by surging demand for its custom AI chips designed for cloud-computing data centres. Marvell's shares have tripled in value this year and jumped nearly 6% on the news, with its market capitalisation standing at around $277 billion — boosted in part by Nvidia CEO Jensen Huang publicly calling it the "next trillion dollar company."