Nasdaq 100 Index! "Big Bull Stock" SMCI.US, the leader in AI, is expected to continue to raise money on the wind of AI.

Microchip International (SMCI.US) will be added to the Nasdaq 100 index on Monday, July 22, replacing Walgreens Boots (WBA.US), according to Nasdaq, which said on Friday evening that Microchip would also replace Walgreens as a component of the Nasdaq 100 Equal Weight Index (NDXE) on the same day.

Walgreens, the main retail pharmacy, has had a tough year, with its shares down more than 60% over the past 12 months. It was also dropped from the S&P 500 index on Feb. 26, replaced by Amazon.

The company’s prospects in the S&P 500 index also look shaky. In January, S&P Dow Jones Indices changed the minimum market capitalization requirement for S&P 500 index components to $12.7bn. Walgreens’s market capitalization is $9.928bn at the time of writing.

In the meantime, Microchip and other tech stocks, which have performed well, will be considered for inclusion in the Nasdaq 100 Tech Index (NDXT) at the next quarterly index rebalancing.

Microchip has risen more than 200% over the past year, helped by AI momentum, and through its longstanding relationship with Nvidia, it provides the essential technology blocks for global companies to set up AI technology — AI workloads for training and inference — with strong GPU acceleration.

Microchip’s deep ties with Nvidia and its strong supply chain often give it access to larger volumes of Nvidia AI GPUs.

The company has also been ramping up its capacity to manufacture servers with Nvidia’s H100 and newer versions of H200/GB200 AI servers to win larger-scale business from companies building and using AI applications.

In June, the “AI supercluster” of AI company, founded and led by Tesla CEO Elon Musk, will be built by Dell and Microchip. The high-performance AI servers will be powered by Microchip.

Microchip has long been known in the server space for its customized server solutions, which can be optimized for specific customer needs. For startups like AI, Microchip’s ability to customize is crucial.