The Nasdaq 100 (NDX) has officially clinched a new all-time high of $22,329 in intraday trading as technology stocks continue to push forward. The Nasdaq 100’s counterpart, the S&P 500 (SPX), is less than 1% from topping its all-time high of $6,147.
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The new record-high marks a historic turnaround for NDX. In April, the index plunged to as low as $16,542, bringing its year-to-date loss to nearly 20%. Now, it’s up by 6.4% on the year.
AI Stocks Lead the Charge
The AI revolution has buoyed the index higher, with stocks like Palantir (PLTR) boasting a YTD return of 91% and Micron (MU) returning 48%. In addition, chip leaders like Nvidia (NVDA) and Broadcom (AVGO) have returned 10% and 13%, respectively, and appear primed to reach new all-time highs.
Non-AI stocks have also helped carry the load. Netflix (NFLX) is up by 48% this year while cybersecurity leader CrowdStrike (CRWD) has jumped higher by 42%.
The Nasdaq 100 is up by 0.43% at the time of writing.
