Dell and Palantir Shares of both companies surged in after-hours trading on Friday after S&P Global announced it would join the S&P 500 U.S. stock index.
Palantir will replace American Airlinesand Dell Is replacing Etsy, according to statement.
This wouldn’t be Dell’s first entry into the index. The computer and server maker was a member of the company from 1996 until 2013, when founder Michael Dell and private equity firm Silver Lake took the company private. Dell went public again in 2018.
Super Micro Computer, which competes with Dell in selling servers for artificial intelligence workloads, followed a historic rise in its stock price earlier this year that pushed the company’s market value past $50 billion. Joined the S&P 500 Index. Its value has since halved.
After operating as a venture capital-backed startup for more than a decade, Palantir listed on the New York Stock Exchange in 2020 and began reporting profits in the fourth quarter of 2022. exist Season 2Palantir’s net profit totaled $135.6 million, up from $27.9 million in the same period last year.
Cyber Security Provider mass strike were added to the index during the last June rebalancing.
Shares of companies included in the benchmark typically rise after the announcement, as fund managers tracking the index regularly update their portfolios to reflect the additions.
The median market capitalization of the companies in the index is approximately $33.5 billion. Palantir’s market capitalization exceeds $67 billion, while Dell’s valuation exceeds $72 billion.
—CNBC’s Ari Levy contributed to this report.
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