The NASDAQ Composite reached a record close on September 21, rising 2.26% to 27,122.09. AI stocks and semiconductor companies drove the Wall Street rally. AMD crossed a USD 1 trillion market valuation during the surge. Investors returned to AI trades as chip demand and spending expectations strengthened.
AMD shares climbed nearly 10% to a record USD 615.52 during Monday's session. The move lifted AMD into the USD 1 trillion club for the first time. Strong expectations around AI computing helped accelerate buying across semiconductor stocks.
AMD has gained about 185% during 2026, far exceeding the NASDAQ's roughly 15.8% advance. Investors increasingly view AMD as a major alternative to NVIDIA in AI computing. The company also continues expanding from individual chips toward complete AI systems.
Other semiconductor stocks also strengthened sharply during the session. Intel jumped 12.2%, while Arm Holdings surged 17% on renewed technology demand. The Philadelphia Semiconductor Index gained 4.3%, highlighting broad strength across chip stocks.
Meta added 11.4% after Wells Fargo raised its price target following the Muse AI assistant launch. NVIDIA gained around 2%, extending strength across major AI-focused companies. The moves showed renewed investor interest despite recent concerns around AI safety.
Lower Treasury yields and falling crude prices also supported the market's advance. The 10-year Treasury yield slipped below 5%, while Brent crude settled at USD 100.34. Art Hogan of B. Riley Wealth said both factors shifted into near-term market tailwinds.
The broader market also finished higher during the technology-led session. The S&P 500 gained 1.49% to 7,764.70, while the Dow Jones rose 0.71%. Eight of the S&P 500's 11 sectors ended higher, led by communication services and technology.
Interest rates remain a major market concern despite the fresh NASDAQ record. Traders continue watching Federal Reserve officials and expectations around another potential rate increase. Investors will also track upcoming US-China discussions involving trade and artificial intelligence regulation.
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