Nasdaq 100 Extends Gain to 3%; CoreWeave Jumps 26.7%, Nebius 19.3%

The dispersion inside this rally is the story: AI-infrastructure names like CoreWeave and Nebius are outrunning the megacap platforms, with Amazon and Microsoft lower even as the index gains 3%. That suggests the market is repricing compute and semiconductor exposure rather than rewarding scale alone, a shift that matters most for the smaller, higher-beta AI-adjacent names now carrying the momentum. Whether this rotation holds, or whether the megacaps catch up and narrow the gap, is the open question worth watching.