CoreWeave Shares Jump 3.3% as It Joins Nasdaq-100 on June 22
CRWV•CoreWeave will join the Nasdaq-100 index on June 22 as part of the quarterly rebalance that removes five stocks. Shares rose 3.3% in premarket trading, reflecting the index’s growing tilt toward AI cloud infrastructure and space technology names.
1. Index Inclusion Details
On June 22, CoreWeave will be added to the Nasdaq-100 index as part of the quarterly rebalance, displacing Charter Communications, Cognizant, Insmed, Verisk Analytics and Zscaler. This marks the company’s first entry into the benchmark, reflecting its growth in AI cloud services.
2. Market Reaction
In premarket trading, CoreWeave shares increased by 3.3%, indicating investor optimism ahead of the official reconstitution. The stock gained alongside fellow additions Rocket Lab, Nebius and Astera Labs, which saw similar premarket jumps.
3. Index Tilt Toward AI Infrastructure
The latest rebalance emphasizes the growing focus on AI infrastructure and space technology, with four of the five additions specializing in AI cloud platforms or satellite services. CoreWeave’s inclusion underscores its position as a leading AI cloud provider.
4. Future Index Changes
SpaceX is positioned to potentially join the Nasdaq-100 once it meets eligibility requirements, while Marvell Technology will enter the S&P 500 on the same rebalance date. These shifts highlight benchmark indices’ evolving composition toward tech-driven names.
