S&P Dow Jones Indices is weighing changes to its S&P 500 entry rules that would let unprofitable megacaps like SpaceX, OpenAI, and Anthropic join the index far sooner than normal. A consultation that closed May 28 proposed waiving the profitability requirement for companies above roughly $112B in market cap, cutting the seasoning period from 12 months to six, and dropping the minimum-float rule. If adopted, the changes take effect June 8, days before SpaceX is set to begin trading June 12. Fortune reports that the move would force passive index funds, which track some $13 trillion in assets, to buy these stocks at any price despite thin floats, with corporate-governance expert Nell Minow calling it “the opposite of what an index is supposed to be.”
