The Nasdaq stock exchange is often the preferred destination for early-stage companies looking to go public, because it offers lower listing fees and fewer barriers compared to alternatives like the New York Stock Exchange. That's why technology giants like Amazon ( AMZN +0.45% ) and Nvidia ( NVDA 0.31% ) chose to list on the Nasdaq when their businesses started gaining momentum in the late 1990s.

Companies like Amazon and Nvidia have since become trillion-dollar giants on the back of hypergrowth themes like cloud computing, e-commerce, and artificial intelligence (AI). Thanks to their incredible scale, they dominate the Nasdaq-100 index, which features 100 of the largest nonfinancial companies listed on the Nasdaq, and is often a proxy for the performance of the tech

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