Marvell Technology (MRVL) has been one of the market's great artificial intelligence (AI) stories this year. Valued at a market capitalization of roughly $233 billion, MRVL stock has more than tripled year-to-date (YTD), riding a wave of demand for the kinds of chips that keep giant data centers running.
Now, a single date on the calendar — June 22 — will act as a near-term tailwind for the large-cap chip stock. It's an event that could change who owns shares of Marvell Technology and how many.
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www.barchart.com Why Marvell Technology Stock Has Risen in 2026
Marvell was founded in 1995 and designs high-performance chips used across global data infrastructure, cloud computing, AI, enterprise networking, 5G carrier networks, and automotive systems. In plain terms, Marvell sells the plumbing of the AI buildout. Its specialty is connectivity. When a computing job is broken into pieces and spread across thousands of chips in a data center, those chips need to share data quickly.
Data center revenue for the chipmaker rose 46% last year and is on track to grow about 50% this year, according to CEO Matt Murphy' remarks at the Bank of America 2026 Global Technology Conference. Murphy also expects roughly 55% growth in the data center business next year. Further, he's targeting $16.5 billion in revenue for a company that ran at just over $2 billion a year when he took the top job in 2016.
The growth story isn't tied to one product, either. Murphy and investor relations chief Ashish Saran pointed to three new $1 billion businesses launching in the next year alone, plus an early push into "scale-up" optics expected to bring in $300 million next year.
Nvidia's Stamp of Approval Lit a Fire Under MRVL Stock
At COMPUTEX 2026 in Taiwan, Nvidia (NVDA) CEO Jensen Huang shared the stage with Murphy and called Marvell the “next trillion-dollar company.” The reaction was instant as MRVL stock soared almost 33% the next day on June 2, its biggest one-day gain ever.
Huang's logic was simple. As computing gets spread across enormous clusters, connectivity is what ties it all together. In his view, that's precisely why Marvell has become so essential.
Nvidia committed to a $2 billion investment in Marvell in March, a move Huang said would make it easier for customers to build their AI systems. Murphy struck a humbler tone at the BofA conference, saying the company still has "a little work to do" before it reaches that trillion-dollar mark.
Marvell backed up the buzz with results. In its latest quarter, reported in May, the company topped analyst estimates with $2.4 billion in revenue and guided further growth this year driven by data center strength.
Marvell Stock Fans Should Circle June 22 on the Calendar
Marvell is set to join the benchmark S&P 500 Index ($SPX) on June 22, S&P Global said in a statement on June 5.
The chipmaker, which trades on the Nasdaq Exchange, will join the 500 leading U.S. companies. Flex (FLEX) is joining on the same day, while Pool Corp (POOL) and The Campbell's Company (CPB) will be removed from the index.
Index funds that track the S&P 500 will drive demand for new additions, pushing share prices higher in the near term. Investors cheered the news of Marvell's inclusion, with MRVL stock rising almost 10% on June 8. In the last 12 months, the tech stock has returned 274%. For a company that Murphy says was worth about $3.5 billion in enterprise value 10 years ago, the climb has been staggering.
Of course, none of this guarantees Marvell stock will keep climbing. AI names have been volatile, and plenty of good news already appears baked into the price.
Out of the 36 analysts covering MRVL stock, 27 recommend a “Strong Buy” rating, three recommend a “Moderate Buy,” and six recommend a “Hold” rating. The average price target is $231.54, which has already been surpassed at current price levels.
Still, June 22 marks a real turning point. Joining the S&P 500 puts Marvell in front of a far larger pool of investors than ever before. For fans of MRVL stock, that's a date worth circling on the calendar.
www.barchart.com On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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