Analysts like its growth potential and ability to better monetize its user base.
The 128-year-old blue-chip index doesn't include Meta, Nvidia or Alphabet.
Google's parent stock price has fallen more than 20% from a July peak.
Some investors are venturing back into the AI sector in search of bargains.
Several megacaps have seen concentrated selling, with a couple in bear-market territory.
The e-commerce giant has long resisted a sustained capital-return program.
Various technology firms have sparked rallies this year by introducing quarterly payouts.
The search giant has been plowing excess cash into share buybacks for years.
Amazon had more than $86 billion in cash at the end of 2023.
Efforts by the Facebook parent to slash costs helped propel its stock 340% from a 2022 low.