Marvell Technology and Flex will be added to the S&P 500 index, replacing Pool Corporation and Campbell Soup Company, according to announcements from index provider S&P Dow Jones Indices.

Marvell Technology's inclusion comes after the semiconductor company benefited from the artificial intelligence boom, which helped it meet profitability requirements for S&P 500 membership. The chipmaker has seen increased demand for its products as AI applications drive growth across the technology sector.

Flex, a multinational electronics manufacturing services company, will also join the benchmark index. The changes reflect the ongoing evolution of the S&P 500's composition as companies meet or fall short of the index's market capitalization, liquidity, and profitability criteria.

Pool Corporation and Campbell Soup Company will be removed from the index to make room for the new additions. Such changes are routine as the index committee regularly reviews companies' eligibility based on financial metrics and market performance.

The timing of the changes and effective dates were not specified in the available information. Index additions and removals typically trigger significant trading activity as funds that track the S&P 500 must adjust their holdings accordingly.