The June 22 quarterly rebalance marks a major thematic rotation for the index, swapping out legacy telecom, IT services, and mature analytics firms for younger, hyper-growth companies deeply embedded in AI infrastructure, semiconductor hardware, and commercial space.
Here is a quick breakdown of what the incoming and outgoing companies actually do:
The Additions: AI, Semiconductors & Space
- CoreWeave (CRWV): A specialized “neocloud” provider that operates large-scale GPU cloud infrastructure purpose-built for training and deploying massive AI models.
- Astera Labs (ALAB): Designs and manufactures high-speed connectivity semiconductor chips that remove data bottlenecks within AI and cloud data centers.
- Nebius Group (NBIS): An AI-focused cloud platform and infrastructure company expanding rapidly across Europe and the West to host heavy AI workloads.
- Teradyne (TER): A veteran industrial tech giant that creates advanced automated test equipment used to verify the performance of semiconductors, electronic modules, and robotics.
- Rocket Lab (RKLB): An end-to-end space prime contractor providing commercial and government launch services via its Electron (and upcoming Neutron) rockets, alongside manufacturing satellite components.
The Removals: Legacy Tech & Traditional Business Services
- Zscaler (ZS): A cloud security company focused on zero-trust architecture to protect corporate networks and data.
- Cognizant (CTSH): A multinational IT consulting, digital engineering, and technology outsourcing services provider.
- Charter Communications (CHTR): A traditional telecommunications and mass media giant operating broadband, cable, and voice services under the Spectrum brand.
- Verisk Analytics (VRSK): A data analytics and risk assessment firm primarily serving the global insurance and financial underwriting industries.
- Insmed (INSM): A global biopharmaceutical company focused on developing therapies for rare, serious, and life-threatening pulmonary disorders.
Thai investors can trade these stocks through Depositary Receipt (DR) in the Stock Exchange of Thailand. Currently, there is NBIS01 issued by Bualuang Securities and NBIS23 issued by InnovestX Securities. Meanwhile, a DR of Rocket Lab has been issued by Bualuang under RKLB01, by InnovestX under RKLB23 and by KTB under RKLB80. Additionally, Yuanta Securities also issued a NASDAQ 100 ETF under QQQM19.
