CoreWeave and Nebius Join Nasdaq 100 as AI Sector Continues to Dominate Markets
Companies operating in artificial intelligence (AI) infrastructure are attracting growing investor attention. According to Nasdaq’s latest quarterly index rebalance announcement, CoreWeave and Nebius have officially joined the Nasdaq 100, alongside Astera Labs, Rocket Lab, and Teradyne.
The market responded positively to the news. CoreWeave shares surged 7.3% to around $102, while Nebius shares climbed 6.3% to roughly $233 during Friday trading.
The addition of both companies highlights strong investor demand for businesses linked to AI infrastructure. Membership in the Nasdaq 100 often increases exposure to institutional investors, including passive investment products such as ETFs that track the index.
For CoreWeave, the milestone marks an important transformation after shifting from a crypto mining company into an AI infrastructure provider. Back in 2019, the company exited the crypto mining industry after the sector weakened following the 2018 crypto bear market.
AI Companies Continue Gaining Momentum
CoreWeave has strengthened its position in the AI sector after signing a long-term partnership with Anthropic, the company behind the Claude AI model.
Under the agreement, Anthropic will use CoreWeave’s cloud data centers to support AI workloads. Demand is expected to continue rising as the AI industry expands rapidly.
Earlier, CoreWeave also secured $8.5 billion in funding led by Meta Platforms. The financing structure stood out because it was backed by deployed computing capacity and projected cash flows, unlike crypto mining companies that typically rely on GPU-based financing models.
Meanwhile, Nebius has been expanding its AI cloud services business by positioning itself as an alternative to larger cloud providers. The company has benefited from rising demand for computing power needed to train and run advanced AI systems.
As demand continues to accelerate, CoreWeave recently increased its 2026 capital expenditure forecast to $31 billion to expand computing capacity.
Crypto Mining Firms Face Growing Pressure
While AI companies continue gaining momentum, several crypto mining companies are still dealing with operational and financial challenges.
One example is Canaan, a Nasdaq-listed Bitcoin mining company. In May, Canaan achieved record fleet efficiency at 17.9 joules per terahash, improving 11% compared with the previous year.
The company also mined 90 Bitcoin during the month and increased its digital asset holdings to around 1,867 BTC and 3,952 ETH.
However, financially the company remains under pressure. First-quarter revenue came in at $62.7 million, sharply down from $196.3 million in the previous quarter. Canaan also reported a net loss of $88.7 million.
In addition, the company received another Nasdaq warning after its share price remained below the exchange’s $1 minimum requirement, with a deadline of July 13, 2026, to regain compliance.
Crypto Miners Begin Pivoting Toward AI
Industry projections suggest publicly listed crypto mining companies could generate up to 70% of revenue from AI-related businesses by the end of 2026, compared with roughly 30% today.
Several companies have already started selling portions of their Bitcoin reserves to finance the construction of data centers and high-performance computing infrastructure as they move into the AI sector.
The inclusion of CoreWeave and Nebius in the Nasdaq 100 highlights how investor attention is increasingly shifting toward companies focused on AI infrastructure, cloud computing, and data centers, while the crypto mining sector continues searching for new growth strategies.
