Shares of AI infrastructure providers CoreWeave and Nebius rallied Friday following confirmation that both companies will join the Nasdaq 100 index later this month. The changes take effect before market open on June 22 as part of the quarterly rebalance.
CoreWeave climbed over seven percent to trade near $102, while Nebius gained more than six percent to reach $233. They enter the benchmark alongside Astera Labs, Rocket Lab, and Teradyne.
Inclusion in the Nasdaq 100 significantly boosts visibility among institutional investors and triggers mandatory buying from passive funds tracking the index. This move underscores the rising weight of AI infrastructure in public markets as demand strains traditional cloud providers.
CoreWeave recently raised the lower end of its 2026 capital expenditure forecast to $31 billion due to rising component costs. Meanwhile, Nebius continues to attract capital as a full-stack alternative to larger cloud platforms.
The reshuffle arrives as Wall Street heavily rewards data center and compute capacity stocks. This trend coincides with broader technology market activity, including SpaceX beginning public trading on Nasdaq under the ticker SPCX.