Nasdaq-100 adds Astera, CoreWeave; removes Cognizant in quarterly reshuffle

The index will welcome new constituents including AI-focused companies Astera Labs and CoreWeave, alongside Nebius Group, Rocket Lab, and Teradyne. These additions signify a notable market shift, with investor interest increasingly directed towards artificial intelligence and semiconductor-linked firms, often at the expense of traditional IT and software services companies.

The Nasdaq-100, which tracks 100 of the largest non-financial companies on the Nasdaq exchange, is a widely followed benchmark with over $800 billion in assets under management globally. The latest adjustments underscore the growing prominence of AI and chipmaking companies in the market.

Cognizant's stock has seen a substantial decline, falling nearly 38% in the past six months and erasing billions in market value. The company's shares closed at $52.17 on June 12. Nasdaq also announced updated index rules, including a 'fast entry' mechanism effective May 2026, which could impact future index compositions.