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3h ago

Nasdaq-100 Adds Five AI Infrastructure Firms Ahead of June 22 Rebalance

The change forces passive funds to buy the new members and highlights a growing market tilt toward companies that supply GPU capacity, data-center connectivity and chip-test equipment.

CoreWeave
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Overview

  • Nasdaq Global Indexes announced on June 11 that Astera Labs, CoreWeave, Nebius Group, Rocket Lab and Teradyne will join the Nasdaq-100 effective before market open on June 22 while Charter, Cognizant, Insmed, Verisk and Zscaler will be removed.
  • Passive funds and ETFs that track the Nasdaq-100 are required to buy the added stocks and sell the removed ones, creating immediate mechanical demand that pushed after-hours and premarket gains for Rocket Lab, Nebius and CoreWeave.
  • The selections reflect a shift into AI infrastructure because the new entrants provide GPU/cloud compute, AI data-center connectivity or semiconductor test equipment that firms need to train and run advanced models.
  • Underlying corporate developments help explain investor interest: Nebius reported strong Q1 revenue and positive adjusted EBITDA, and CoreWeave has pivoted from crypto mining to AI cloud services with a multi-year Anthropic agreement.
  • The rebalance interacts with broader index dynamics because more than $800 billion tracks the Nasdaq-100 and Nasdaq’s recent rule change plus SpaceX’s June 12 IPO create a near-term variable that could prompt further index reshuffling and volatile flows.