Nasdaq 100 rises over 1.8% at US open; Philadelphia Semiconductor Index jumps 4.7%

The breadth of the move is the signal: chip equipment, memory, storage and AI-infrastructure names rising together suggests the Nov. 5 drawdown is being treated as a buying window rather than a regime change. CoreWeave and Nebius outpacing Nvidia points to appetite for higher-beta AI compute exposure over the sector bellwether. Whether that leadership rotation holds through the session, and whether the Philadelphia index can defend the level it just reclaimed, is the open question.