The Nasdaq 100 (NDX) has secured a new intraday all-time high of 25,008.08, buoyed by a staggering 26% jump from Advanced Micro Devices (AMD). On Monday, OpenAI announced that it would take up to a 10% stake in AMD stock, with tranches vesting upon receiving AMD Instinct GPUs over several years.
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Tesla (TSLA) is also catching a bid after the EV company posted two teaser videos on X, with investors speculating that they could be alluding to either the long-awaited Roadster or a new mass-market vehicle.
Nasdaq 100 Eyes Earnings and Economic Data After Strong Rally
The Nasdaq 100 has now returned 19% year-to-date, a far cry from when the technology index was down by 18.5% in April as fear peaked over the Trump administration’s tariff policies.
Despite the strong performance, some caution remains. Analysts warn that valuations in the tech sector are elevated, and a slowdown in AI-related spending or geopolitical pressure could lead to short-term volatility.
The focus now turns to upcoming earnings reports and economic data, which will guide the index’s next moves.
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