> indexes changed their rules

NASDAQ changed its rules. Which I’m now 90% sure was a brilliant marketing move, given nobody followed that index until they did this.

I was under the impression NASDAQ pursued it for their exchange business, not index revenue, but I suppose it could be both.

In addition to the IPO, I expect there will be a lot of option and derivative services

But very few 401ks offer the NASDAQ as an investment option.

I'm pretty sure that's the change GP is referring to. But pension funds can choose to specifically exclude such companies. The Danish pension fund has already excluded SpaceX, which owns xAI. (This also probably relates to American threats of annexation of Danish territories, not just AI stuff.)