CoreWeave joins Nasdaq 100 as AI boom redraws market leaders

CoreWeave and Nebius have secured places in the Nasdaq 100 after Nasdaq announced that both companies will be added to the index before trading begins on June 22.

According to Nasdaq’s quarterly index rebalance announcement, CoreWeave and Nebius will join the Nasdaq 100 alongside Astera Labs, Rocket Lab, and Teradyne.

Investors welcomed the news, sending CoreWeave shares up about 7.3% to roughly $102 and lifting Nebius shares about 6.3% to around $233 in Friday trading.

The additions come as companies tied to artificial intelligence infrastructure continue attracting capital and market attention. Membership in the Nasdaq 100 often increases exposure to institutional investors and can generate buying activity from exchange-traded funds and other passive investment products that track the benchmark.

For CoreWeave, the milestone follows a rapid transformation from cryptocurrency mining into one of the most closely watched AI infrastructure providers in public markets.

As previously reported by crypto.news, the company exited crypto mining and rebranded as an AI infrastructure business in 2019 after weakening mining economics following the 2018 crypto market downturn.

AI infrastructure companies gain ground in major indexes

Recent business developments have strengthened CoreWeave’s position within the AI sector. As reported by crypto.news in April, the company signed a multi-year agreement with Anthropic to support workloads for the Claude family of AI models.

Under the agreement, Anthropic will use CoreWeave’s cloud data centers to run AI workloads, with deployment expected to expand over time as demand increases.

The Anthropic partnership followed an $8.5 billion capital raise led by Meta Platforms. According to crypto.news, the financing was backed by deployed computing capacity and projected cash flows rather than graphics processing unit hardware, a structure that differed from financing models commonly used by crypto mining firms.

Meanwhile, Nebius has built its business around AI cloud services and has attracted investors seeking alternatives to larger cloud providers. The company markets itself as a full-stack AI cloud platform and has benefited from rising demand for computing power used to train and operate advanced AI systems.

CoreWeave’s latest expansion plans highlight the scale of that demand. The company recently raised the lower end of its 2026 capital expenditure forecast to $31 billion, citing higher component costs as it continues adding computing capacity.

Crypto miners face pressure while AI spending accelerates

While AI-focused companies move into one of the world’s most closely followed technology indexes, several firms tied to cryptocurrency mining continue dealing with operational and financial challenges.

Canaan offers a contrasting example. As reported by crypto.news, the Nasdaq-listed Bitcoin miner achieved a record fleet efficiency of 17.9 joules per terahash in May and improved efficiency by 11% from a year earlier. The company mined 90 Bitcoin during the month and increased its treasury holdings to approximately 1,867 BTC and 3,952 ETH.

Despite those operational gains, Canaan reported first-quarter revenue of $62.7 million, down from $196.3 million in the previous quarter, while posting a net loss of $88.7 million. Crypto.news previously reported that the company also received a second Nasdaq non-compliance notice after its share price remained below the exchange’s $1 minimum bid requirement, giving it until July 13, 2026, to regain compliance.

Industry projections cited by crypto.news suggest publicly listed miners could generate as much as 70% of revenue from AI-related activities by the end of 2026, up from roughly 30% today. As companies invest in data centers and high-performance computing infrastructure, some miners have sold portions of their Bitcoin holdings to finance that transition.

Against that backdrop, the Nasdaq 100 additions underscore how investor interest has increasingly concentrated around companies supplying cloud capacity, AI data centers, and computing infrastructure, even as parts of the cryptocurrency mining sector continue searching for new growth models.