CoreWeave and Nebius shares rose Friday after Nasdaq said both AI infrastructure companies will be added to the Nasdaq 100 index later this month.

The changes will take effect before the market opens on June 22 as part of Nasdaq’s quarterly index rebalance. CoreWeave and Nebius will join the index alongside Astera Labs, Rocket Lab, and Teradyne.

CoreWeave was recently trading near $102, up about 7.3% on the day. Nebius was trading near $233, up about 6.3%.

The move gives both companies a stronger foothold in one of the most closely tracked technology indexes in the world. Inclusion in the Nasdaq 100 can increase visibility with institutional investors and create demand from passive funds and exchange traded products that track the benchmark.

The additions also reflect the growing weight of AI infrastructure in public markets. CoreWeave and Nebius have become two of the highest profile names in the AI cloud trade, offering computing capacity to companies training and running advanced models.

CoreWeave has been expanding aggressively as demand for AI infrastructure strains traditional cloud providers. The company recently raised the lower end of its 2026 capital expenditure forecast to $31 billion, citing rising component costs as it builds out capacity.

Nebius has also benefited from the same theme. The company has positioned itself as a full stack AI cloud provider and has drawn attention from investors looking for alternatives to larger cloud platforms.

The Nasdaq 100 reshuffle comes as Wall Street continues to reward companies tied to AI data centers, chips, cloud infrastructure, and compute capacity. It also arrives during a broader rush of major technology listings and index speculation, with SpaceX beginning public trading on Nasdaq under the ticker SPCX.