June 26 (Reuters) - ****** eX will be added to the tech-heavy Nasdaq 100 index on July 7, exchange operator Nasdaq confirmed on Friday, paving the way for a surge in passive investments in Elon Musk's rocket and AI giant.
Inclusion in the index typically boosts the stock price, as exchange-traded funds looking to replicate the index's performance buy shares of the newly included firm.
To make it more attractive for companies seeking U.S. listings, Nasdaq, along with other index providers FTSE Russell and MSCI, relaxed its entry requirements including profitability, the number of days after a company goes public and the number of shares available for trading.
SpaceX, which made its Nasdaq debut on June 12, has swung between sharp losses and small profits over the past three years. Last year, the company reported a net loss of $4.9 billion.
Large Language Model (LLM) makers OpenAI and Anthropic are also expected to file for their initial public offerings this year or next year and likely target valuations of more than $1 trillion.
Inclusion in the index typically boosts the stock price, as exchange-traded funds looking to replicate the index's performance buy shares of the newly included firm.
To make it more attractive for companies seeking U.S. listings, Nasdaq, along with other index providers FTSE Russell and MSCI, relaxed its entry requirements including profitability, the number of days after a company goes public and the number of shares available for trading.
SpaceX, which made its Nasdaq debut on June 12, has swung between sharp losses and small profits over the past three years. Last year, the company reported a net loss of $4.9 billion.
Large Language Model (LLM) makers OpenAI and Anthropic are also expected to file for their initial public offerings this year or next year and likely target valuations of more than $1 trillion.
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