Nasdaq-100 drops Cognizant, adds AI-focused firms Astera, CoreWeave in quarterly reshuffle

Cognizant Technology Solutions will be removed from the Nasdaq-100 index on June 22 after more than two decades. The reshuffle sees AI-focused firms like Astera Labs and CoreWeave added, reflecting a market shift towards AI and semiconductor companies. This change follows a significant drop in Cognizant's stock value over the past six months.