After Datadog - who are next strong candidates for S&P 500.

by MarketNewsData

Now that Datadog (DDOG) has officially joined the S&P 500, attention shifts to other high-growth companies with sizeable market caps that still haven’t made the cut. Many of these names exceed the index’s minimum threshold of $22.7 billion, making them strong candidates for future inclusion.

🔍 Top Companies to Watch

  • AppLovin (APP) — $113.7B Market Cap
    Mobile ad tech firm with $4.7B in revenue and just over 1,500 employees. Fast-growing and lean.
  • MicroStrategy (MSTR) — $110B
    Heavily tied to Bitcoin rather than its core software business ($463.5M in revenue). Sizeable, but unique structure may be a factor.
  • Brookfield Asset Management — $89.2B
    Founded just in 2022, it’s already a major player in asset management. Still relatively new, which could delay its entry.
  • Robinhood (HOOD) — $86.5B
    Well-known among retail investors with $3B in revenue. A strong tech name, but still waiting on index inclusion.
  • Southern Copper (SCCO) — $85.3B
    Traditional industrial with over $11B in revenue and 16,000+ employees. Steady fundamentals and scale.
  • Snowflake (SNOW) — $72.5B
    Prominent in the cloud data and AI ecosystem with $3.6B in revenue. A consistently watched name.
  • CoreWeave — $72.8B
    An up-and-coming AI infrastructure provider with rapid growth and fewer than 900 employees. Early but impressive.
  • Roblox (RBLX) — $69.5B
    A digital entertainment platform generating $3.6B in revenue. Popular and growing.
  • Enterprise Products Partners — $68.2B
    A major energy pipeline company with $55.7B in revenue. Its MLP structure may complicate inclusion.
  • Cloudflare (NET) — $64.3B
    Web infrastructure and cybersecurity firm with consistent growth and $1.7B in revenue.

💭 A Broader Look

While these companies check many boxes—scale, relevance, and investor interest—their exclusion so far reflects the complexity of S&P 500 eligibility, which considers more than just size. Factors like corporate structure, profitability, and share class voting rights also play a role.

The absence of these large players raises a broader question:
Is the S&P 500 evolving quickly enough to reflect today’s economy, especially in tech and AI?

For now, they remain on the watchlist. But don’t be surprised if one of these names is the next to join Datadog in the index.

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