CoreWeave and Nebius added to Nasdaq 100, shares jump

Shares of CoreWeave and Nebius Group rose sharply on Friday after Nasdaq announced both artificial intelligence infrastructure companies will join the prestigious Nasdaq 100 index. The changes are scheduled to take effect before the market opens on Monday, June 22, as part of the exchange's quarterly index rebalancing.

The two firms will be added alongside Astera Labs, Rocket Lab, and Teradyne. Charter Communications, Cognizant, Insmed, Verisk Analytics, and Zscaler will be removed from the benchmark. Following the announcement, CoreWeave shares gained approximately 7.3 percent to trade near $102, while Nebius shares rose about 6.3 percent to around $233. Nebius had also surged nearly 13 percent in after-hours trading on Thursday.

Inclusion in the Nasdaq 100, which tracks 100 of the largest non-financial companies listed on the exchange, typically increases a company's visibility with institutional investors. It also generates automatic buying from passive funds and exchange-traded products that replicate the index, which collectively manage over $800 billion globally.

The additions underscore the growing market influence of companies supplying cloud capacity and computing power...