Wissensportal zu Indizes

Der Ausbau der KI-Rechenzentren nimmt weiter Fahrt auf; bei den großen an der Nasdaq notierten Hyperscalern werden für 2026 Investitionsausgaben von nahezu 800 Mrd. USD erwartet. Die Risiken und Chancen werden jedoch weiterhin häufig missverstanden, was zu heftigen Debatten und fehlendem Konsens über die Nachhaltigkeit von KI-Investitionen führt. In dieser Folge erläutern wir die Entwicklung der Finanzierungsdynamik hinter dem Ausbau der KI-Investitionsausgaben und zeigen, dass er weiterhin überwiegend aus den Cashflows der Hyperscaler finanziert wird, mit etwas Unterstützung durch die Emission von Schuldtiteln. Bislang steigen die Gesamtverschuldungsquoten für den Nasdaq-100 nicht, und es besteht weiterhin reichlich Spielraum für zusätzliche Kreditaufnahme. Unterdessen verbessern sich die zugrunde liegenden Erträge aus KI-Investitionsausgaben weiter.

The AI datacenter buildout continues to expand at full steam, with nearly $800 billion of capex projected for 2026 among the major Nasdaq-listed hyperscalers. The risks and opportunities continue to be poorly misunderstood, however, leading to fierce debate and a lack of consensus on the sustainability of AI investment. In this episode, we outline our recent research into how the evolution of GPU pricing and performance refutes some of the skepticism that remains around the economics of AI capex.

In this episode of Nasdaq-100 Weekly, Sal Bruno, Head of Americas Index Insights, discusses how equal weighting may help broaden Nasdaq-100 exposure and reduce concentration while maintaining access to the same innovative companies. He also explores the trade-offs investors may consider between concentration management, volatility, and long-term return potential.

The space economy is still in the early stages of what could become a much larger, more connected ecosystem over time. Advances in launch infrastructure, satellite technology, connectivity, defense applications, and commercial innovation are helping expand what is possible beyond Earth’s surface. In this episode, we’ll look beyond the near-term milestones to explore the longer-term goals and opportunities that may shape the future of the space economy—and why the Nasdaq-100 may be well positioned to reflect key areas of innovation within this evolving theme.

The space economy is a dynamic and fast-evolving industry, supported by advances in launch infrastructure, satellite technology, connectivity, defense applications, and the broader innovation ecosystem. In this episode, we’ll go beyond science fiction to explore where potential near-term investment opportunities may be emerging and why the Nasdaq-100 may be well positioned to reflect key parts of this growing theme

In this episode of Nasdaq-100 Weekly, Pranay Dureja, Head of Derivatives and QIS Index Insights, discusses how institutions use Nasdaq-100 futures and options to proxy mega-cap exposure, manage capital efficiency, and implement risk management strategies at scale.

In this episode of Nasdaq-100 Weekly, Pranay Dureja, Head of Derivatives and QIS Index Insights, explores the growing role of the Nasdaq-100 in retirement plans. He reviews participant demand, the evolution of retirement menus, and the vehicles plan sponsors can use to incorporate Nasdaq-100 exposure.

In this episode of Nasdaq-100 Weekly, Pranay Dureja, Head of Derivatives and QIS Index Insights, examines why many institutions are looking at the Nasdaq-100 as a core allocation. He explores the active versus passive debate, large-cap concentration, and the investment vehicles available to access the index.

The level of AI exposure continues to increase across both the Nasdaq-100 and the broader US equity market. This update dissects some of the recent estimates of AI exposure for the S&P 500, explains how and why that exposure has grown in recent years, and proposes a few different ways of measuring it going forward.

The level of AI exposure in the Nasdaq-100 substantially exceeds that of the broader US equity market, owing to a higher concentration of firms across the AI value chain. This update presents a few different ways of measuring AI exposure across the Nasdaq-100, all of which point to the same conclusion: the index remains a broad-based benchmark in terms of sector exposure, while acting as a clear focus point for the AI investment theme.

The Nasdaq-100 Index® delivered a strong rebound in 2Q 2026, driven by continued investor focus on artificial intelligence and standout performance across semiconductor-related companies. This update explores key performance drivers, sector trends, and the widening divergence between semiconductor and software stocks within the index during the first half of the year.

The Nasdaq-100 Index® delivered a strong rebound in 2Q 2026, driven by continued investor focus on artificial intelligence and standout performance across semiconductor-related companies. This update explores key performance drivers, sector trends, and the widening divergence between semiconductor and software stocks within the index during the first half of the year.

In this edition of Nasdaq-100 Weekly, Mark Marex explores how a shifting macro backdrop is reinforcing innovation as a key driver of tech sector outperformance. As companies focus on delivering more value to existing customers, tech leaders stand out for their ability to scale and meet resilient demand.

In this episode of Nasdaq-100 Weekly, Mark Marex, Nasdaq's Global Head of Index Insights, explores how artificial intelligence exemplifies the powerful forces behind technology scaling. From rapid adoption to declining costs and accelerating performance, AI highlights how exponential trends are driving sustained growth and reshaping industries, representing a transformative economic opportunity.

Mark Marex, Nasdaq’s Global Head of Index Insights, explores why technology and tech-adjacent companies in the Nasdaq‑100 have delivered sustained outperformance. Watch to learn how the deflationary nature of innovation, exponential adoption and performance curves, and a powerful cycle of consumer demand and reinvestment have driven long-term growth in the Nasdaq‑100.

Mark Marex, Nasdaq's Global Head of Index Insights, breaks down the remarkable and consistent outperformance of the Nasdaq-100. Watch to learn more about the fundamental drivers, from exponential growth in earnings and cash flow to the pivotal role of R&D spending in powering the Nasdaq-100.

Nasdaq's Pranay Dureja provides a deep dive into the powerful ecosystem behind the Nasdaq-100 Index. Watch the video to discover how market participants access and trade the Nasdaq-100, where liquidity concentrates, and what it reveals about modern market structure.

In this episode of Nasdaq-100 Weekly, Pranay Dureja explores the market size of the NDX ecosystem. Learn how notional value is used to measure over $1.4 trillion in exposure across various products and how investors utilize the index for everything from long-term growth to sophisticated risk management.

Pranay Dureja, Senior Specialist with Nasdaq Index Insights, provides a closer look at how four decades of innovation have transformed the Nasdaq-100 into the foundation of modern investing.

Sal Bruno, Head of Americas Index Insights from Nasdaq Index Insights breaks down the reasons why the Nasdaq-100 is more than just a tech index. Discover the diverse, innovative companies across multiple sectors that make up the index and learn about the three fundamental forces driving its performance: earnings execution, the macroeconomic environment, and its unique market-cap-weighted design.

In this episode, Salvatore Bruno, Head of Americas Index Insights for Nasdaq Global Indexes addresses a common question: Is the Nasdaq-100 too concentrated? Learn how the market-cap weighted index is constructed and why its design intentionally focuses on market leaders and innovators.

In this episode, Salvatore Bruno, Head of Americas Index Insights for Nasdaq Global Indexes highlights the different ways markets react to changes in the Federal Funds Rates.

In this episode, Salvatore Bruno, Head of Americas Index Insights for Nasdaq Global Indexes discusses the addition of Walmart (WMT) to the Nasdaq-100 Index®.

Mark Marex, Global Head of Index Insights, for Nasdaq Global Indexes highlights three new constituents to the Nasdaq-100 Index, Monolithic Power Systems, Insmed, and Alnylam Pharmaceuticals.

The Nasdaq-100 Weekly video series provides insights into the Nasdaq-100 Index® . In this episode, Salvatore Bruno, Investment Strategist for Index Research at Nasdaq dives into factors to consider when evaluating the price of the Nasdaq-100.