From SpaceX and Micron to Galaxy Digital: In one article, understand the 37 newly added AI companies and 7 crypto dark horses in Russell

Original | Odaily Planet Daily (@OdailyChina)_

Author | Golem (@web 3_golem)

After the U.S. stock market closed on June 26, the Russell U.S. Index completed its latest reconstitution, with all index constituents and weights finally locked in. Starting June 29 (i.e., today), the market will officially trade based on the new index at the U.S. stock market open.

The Russell U.S. Index is one of the most important benchmarks for the U.S. stock market globally. It tracks the stock price performance of the top 3,000 U.S.-listed companies by market cap (Odaily note: actual numbers may vary slightly due to listings/delistings; for example, 2025-2026 data shows around 2,900+), representing approximately 98% of the investable U.S. stock market. It is the most comprehensive large-cap + small-cap composite index for the United States.

If the Russell U.S. Index is likened to a pyramid, the Russell 1000 is the top of the pyramid, containing the top 1,000 large-cap stocks by U.S. market cap; the Russell 2000 is the middle-to-bottom part, containing small-cap stocks ranked from 1,001 to 3,000. Together, they form the complete Russell U.S. Index, also known as the Russell 3000 Index.

According to official sources, over $12 trillion in assets globally are benchmarked to the Russell U.S. Index (including passive ETFs, mutual funds, pension funds, etc.), so during each annual reconstitution, a large number of ETFs, index funds, and institutional accounts must adjust their holdings synchronously. According to data released by Nasdaq, on the reconstitution day of June 26, its Closing Cross system processed $120k in trading volume, the highest single-day record for the Russell 3000 Index reconstitution in Nasdaq Closing Cross history, far exceeding the 2025 data.

The total number of stocks listed on Nasdaq and the NYSE is approximately 5,650. While the Russell 3000 Index covers 97% of the U.S. investable market by float-adjusted market cap, it only accounts for 53% by number of constituents. Therefore, the reconstituted constituents of the Russell 3000 Index receive significant market attention, especially those newly added to the index, as this means these stocks will, for the first time, attract trillions of dollars in passive fund buying, potentially leading to better future performance, making them worth positioning in.

224 Companies Newly Added to the Russell 3000 Index

According to official disclosures, after this reconstitution, the market cap threshold dividing the Russell 1000 and Russell 2000 surged by 24%, reaching $5.7 billion. This means many companies with market caps around $5 billion were moved from the Russell 1000 to the Russell 2000, while the minimum market cap for constituents in the Russell 2000 rose to $146.4 million (an increase of nearly 23% from 2025).

A total of 61 companies were newly added to the Russell 1000 Index, of which 42 were promoted from the Russell 2000 Index. These new constituents are mainly concentrated in technology (18 companies) and industrials (17 companies), with only 19 truly new companies joining the Russell 1000 Index.

A total of 244 companies were newly added to the Russell 2000 Index, of which 39 were downgraded from the Russell 1000, 83 came from the Russell Microcap Index, 17 joined via IPOs, and the rest came from outside the Russell U.S. Index constituent universe. Among these 244 new additions, 88 are in the healthcare sector, 36 in technology, 31 in consumer discretionary, and 28 in industrials.

Therefore, in this reconstitution, a total of 224 new companies were added to the Russell 3000 Index: 19 entered the Russell 1000 Index, and 205 entered the Russell 2000 Index. At the same time, 118 companies were completely removed from the Russell 3000 Index.

List of Companies Newly Added to the Russell 3000 Index (click to view full list)

Approximately 37 AI and Semiconductor Companies Added to the Russell 3000 Index

Compared to the Russell 2000 Index, the technology sector accounts for a much larger share in the Russell 1000 Index than any other sector. NVIDIA, with its rapid market cap expansion, has officially replaced Apple as the largest-weight constituent in the Russell 1000 Index. With the boom in AI and semiconductor industries this year, semiconductor stocks saw the largest weight increase in the Russell 1000 Growth Index (Odaily note: The Russell 1000 Index can be further split into Growth, Value, Top 200, and Mega Cap).

By weight, the companies adding the most weight to the Russell 1000 Growth Index are Micron Technology and SanDisk, both of which shifted from 100% Value stock category to 100% Growth stock category.

Industry Weight Distribution of Russell 1000 Index vs. Russell 2000 Index Constituents

Meanwhile, according to Odaily's statistics, among the 224 companies newly added to the Russell 3000 Index, approximately 37 are involved in the AI industry upstream or downstream, accounting for about 17% of the new additions.

AI-Related Companies Among Russell 3000 Index New Additions (AI-Generated Graphic)

Among these 37 companies, the most eye-catching is SpaceX. After completing its IPO on June 12, 2026, SpaceX’s market cap surged to over $2 trillion, triggering the Russell "Fast-track" mechanism. It thus directly entered the Russell 1000 Index and also immediately joined the Russell Top 200 Index. SpaceX stock will be classified as approximately 90.4% Growth and 9.6% Value, meaning it will become a key component of growth-oriented investments linked to the Russell 1000 Index.

Beyond the Russell 1000 Index, SpaceX will also be added to the Nasdaq 100 Index on July 6 and begin trading.

For other AI concept stocks newly joining the Russell 3000 Index, this is not just an honorary title but a tangible positive catalyst that can directly translate into secondary market liquidity and stock price support.

Previously, these small-to-mid-cap AI and semiconductor companies (especially those with market caps below $5.7 billion and placed in the Russell 2000) were often excluded from large Wall Street mutual fund or hedge fund stock pools due to market cap constraints. Once a company is included in the index, Wall Street analysts may be forced to cover it, increasing its "visibility" to institutional investors. Benefiting from being in the hot AI track, these stocks might attract active funds or collaborative capital inflows, pushing their share prices higher.

Approximately 7 Crypto-Related Companies Added to the Russell 3000 Index

After this reconstitution of the Russell 3000 Index, some crypto companies were also included for the first time. According to Odaily's statistics, among the 224 companies newly added to the Russell 3000 Index, approximately 7 are related to the crypto industry, accounting for about 3% of the new additions. They are: Galaxy Digital, SharpLink, Bitmine, Forward Industries, Hyperliquid Strategies, Tron, and IREN.

Crypto-Related Companies Among Russell 3000 Index New Additions (AI-Generated Graphic)

These seven companies successfully entering the Russell 3000 Index means their stocks will become passive allocations for a large number of funds in the future, offering some upside potential. Among these seven companies, five are engaged in DAT (Digital Asset Technology) businesses, corresponding to different ecosystems such as ETH, SOL, HYPE, and TRON. It is worth noting that the Russell 3000 Index is essentially a cold, emotionless machine that relies purely on market capitalization, ignoring subjective preferences. The fact that these five companies made the cut proves that although the DAT craze has passed, their model has withstood the test of the market and time.