Nasdaq Reaches Record High Amid AI Investment Surge

The Nasdaq 100, which tracks 100 major companies, climbed 0.82 percent. In contrast, the S&P 500 index remained nearly unchanged.

Leading the gains were Monolithic Power Systems, a Florida-based power circuit manufacturer, and Canadian e-commerce company Shopify, which surged 8.1 percent and 7.1 percent, respectively. Micron Technology, a leading memory chip manufacturer, also saw a 5 percent increase. Chip giant Nvidia, currently the world’s most valuable company, rose 0.7 percent, while Apple inched up 0.2 percent. However, Meta Platforms, which had an 11.4 percent rise on Monday driven by excitement for its new AI assistant Muse, dipped 0.63 percent.

On Wednesday, major Asian stock markets opened higher, with Japan’s Nikkei 225 and South Korea’s Kospi rising approximately 1.4 percent and 0.1 percent, while Hong Kong’s Hang Seng Index fell over 0.7 percent.

Oil prices remained steady on Tuesday, recovering slightly after a more than 3 percent drop the day before, buoyed by improved oil flow from the Gulf and hopes for renewed U.S.-Iran diplomacy. As of 01:00 GMT, Brent crude futures were priced at $99.18 a barrel.

U.S. President Donald Trump stated on Tuesday that U.S. officials had a "very good" meeting with Iranian counterparts during the United Nations General Assembly. He indicated that further talks would occur imminently. Jay Goldberg, a senior analyst at Seaport Research Partners, noted that signs of diplomatic progress had shifted investor focus back to AI profitability after years of significant investments. He commented on Muse's potential as a consumer use case justifying AI investments, stating that while it represents progress, there will be even better products in the near future.