New Delhi, June 27 -- SpaceX will be added to the tech-heavy Nasdaq 100 index on July 7, exchange operator Nasdaq confirmed on Friday.

The inclusion in the index is expected to pave the way for a surge in passive investments into Elon Musk's rocket and AI giant, as many mutual funds and exchange-traded funds (ETFs) automatically buy shares of companies that are added to the index. The move is likely to increase demand for the stock again and can push the price higher.

Popular funds such as Invesco's QQQ and QQQM, which track the Nasdaq 100, will purchase SpaceX shares to match the index, potentially bringing billions of dollars in fresh investment into the company.

J.P. Morgan estimated that SpaceX's inclusion in the Nasdaq 100 could d...