The Nasdaq-100 Is Getting 5 New Members. Here's the List.

The Nasdaq-100 index is adding five new members on June 22, and this quarterly rebalancing of the famed index appears particularly representative of the broader themes dominating the market right now.

Companies operating at the intersection of networking, artificial intelligence, computing capacity, and infrastructure are seeing rapid growth, allowing their market caps to reach among the largest in the world. Four of the incoming members of the Nasdaq-100 index, Astera Labs (NASDAQ:ALAB), CoreWeave (NASDAQ:CRWV), Nebius Group (NASDAQ:NBIS), and Teradyne (NASDAQ:TER), work squarely in this arena. The fifth, Rocket Lab (NASDAQ:RKLB), is a space platform company with significant expansion potential.

Each of them is outperforming the market by a wide margin, with year-to-date gains ranging from 53% to 242%.

Let’s look at the incoming members of the Nasdaq-100, which represent 100 of the biggest non-financial companies in the Nasdaq stock exchange, and why they are replacing Charter Communications, Cognizant Technology Solutions, Insmed, Verisk Analytics, and Zscaler on June 22.

Image source: Getty Images.

Astera Labs

Astera Labs has become a top name in connectivity for AI systems, developing high-speed connectivity hardware and software for AI and cloud data centers. Astera’s connectivity chips use PCIe, CXL, Ethernet, UALink, and NVLink Fusion technologies to move data between AI chips, servers, and storage devices.

The company is ramping up sales of its Scorpio X-Series of AI fabric switches, designed to handle heavy workloads in data centers.

Earnings for the first quarter were solid, with revenue of $308.4 million, up 93% from a year ago, and net income of $80.3 million, up from $31.8 million.

CoreWeave

CoreWeave is a cloud computing provider that operates large data centers that are designed to handle AI workloads, including training and operating large language models. CoreWeave rents computing capacity in its data centers to companies and AI labs, and has billions of dollars in contracts with Microsoft and Meta Platforms.

In April, CoreWeave announced that Meta is committing an additional $21 billion to CoreWeave for AI computing capacity, bringing the value of Meta’s contracts to $35 billion.

CoreWeave reported a revenue backlog of nearly $100 billion in the first quarter. The company surpassed 1 gigawatt of active power earlier this year, and it expects to have 8 GW in power by 2030.

Nebius Group

Nebius is the best-performing stock on this list, with gains of 242% so far this year. The Dutch company provides AI cloud services and GPU capacity for running and training AI workloads. It received a $2 billion investment from Nvidia this year and plans to scale more than 5 GW of AI capacity using Nvidia’s computing platform. And it also has deals with Microsoft and Meta, valued at a collective $46 billion.

The company is also hitting its targets -- it had a goal for 3 GW of contracted capacity by the end of 2025, but instead reached 3.5 GW. The company is now guiding for 4 GW of capacity by the end of the year, and recently announced plans for new data centers in Missouri and Pennsylvania.

Teradyne

Teradyne makes automated test equipment for semiconductors. And as more hyperscalers design their own AI semiconductors, Teradyne’s role in the AI space continues to grow. AI-related demand accounted for more than 70% of the company’s first-quarter revenue.

Revenue in the first quarter was $1.28 billion, up from $686 million a year ago, and earnings per share were $2.56 versus $0.75 in the first quarter of 2025.

“All of our business groups -- Semiconductor Test, Product Test, and Robotics -- delivered strong year-over-year growth, which we expect to continue with robust AI-driven momentum as the catalyst,” CEO Greg Smith said. The company issued Q2 guidance for revenue between $1.15 billion and $1.25 bill.ion

Rocket Lab

You could say this is the outlier in the group, as Rocket Lab doesn’t work directly with AI or semiconductors. But considering that the biggest story in the market in recent weeks was the record-setting IPO by Space Exploration Technologies, or SpaceX, then perhaps it’s not surprising that fellow space company Rocket Lab has become successful enough to join the Nasdaq-100 on June 22.

The company provides rockets and end-to-end launch services, spacecraft, and satellite components to governments and private companies. And this year it agreed to buy Motiv Space Systems, a specialist in space robotic systems used on NASA Mars rover missions.

The company’s revenue in the first quarter was $200.3 million, up 63% from a year ago, and it reported a record backlog of $2.2 billion, which is up 20% from the previous quarter.

Patrick Sanders has positions in Nebius Group and Nvidia. The Motley Fool has positions in and recommends Meta Platforms, Microsoft, Nvidia, Rocket Lab, Teradyne, Verisk Analytics, and Zscaler. The Motley Fool recommends Astera Labs and Cognizant Technology Solutions. The Motley Fool has a disclosure policy.