Nasdaq 100 Rises 3% as Astera Labs Jumps 13%, Nvidia Falls 4.2%

The striking detail is the breadth of the rally sitting alongside Nvidia's 4.2% decline: a 6.1% semiconductor index gain without the sector's largest name leading suggests rotation into second-tier chip and optical names rather than a single-stock lift. Astera Labs, Lumentum and Monolithic Power carrying the tape points to connectivity and power-management exposure drawing the bid. Whether that leadership persists without Nvidia participating is the open question, and the gap between the Nasdaq 100's 3% and the Dow's 1.7% shows how concentrated the move remains.