On September 17, Marvell Technology rose 5.1% in regular trading, trading at $244.325/share, with turnover of $684 million. The rally was driven by a dual catalyst: an expanded multi-year strategic partnership with GlobalFoundries and the approaching effective date of its S&P 500 index inclusion.

Under the expanded agreement, GlobalFoundries will significantly increase silicon germanium (SiGe) technology capacity at its Burlington, Vermont facility to meet surging demand for next-generation high-speed optical connectivity in AI and cloud data centers. The mature SiGe portfolio currently supports 200G-per-lane optical links, with a roadmap for higher speeds as bandwidth requirements grow. GlobalFoundries shares also surged nearly 8% pre-market on the announcement.

Simultaneously, Marvell is set to be formally added to the S&P 500 index before the open on September 21, with only two trading days remaining until the effective date. Mandatory allocation by passive index funds is accelerating, providing sustained incremental buying support. Bank of America maintains a Buy rating, projecting XPU-related revenue could reach $30 billion by decade-end. Additionally, Marvell announced the public preview launch of its Azure Payment HSM V2 with Microsoft, marking a milestone in cloud payment security.

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