Nasdaq Closes at Record High as AMD Tops $1T Market Cap

The scale of the semiconductor and platform rally suggests the market is pricing AI adoption as an operating reality rather than a theme, with AMD's trillion-dollar milestone and double-digit moves across Intel and Arm pointing to a broad re-rating of the compute stack. Meta's Muse topping app charts with meaningful early installs gives that trade a consumer-facing anchor, which is what separates this move from pure infrastructure enthusiasm. The open question is whether Muse's install trajectory holds once launch novelty fades, and whether AMD's valuation can be sustained without a clearer read on AI chip demand outside the largest buyers.