Nasdaq 100 Surges to Record High as Intel Clears Dot-Com Era Ceiling

The Nasdaq 100 (NDX) climbed to a new intraday all-time high of 27,121 on Friday, driven by an earnings beat from Intel (INTC).

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INTC is now up by 108% year-to-date and has surpassed its dot-com era high. The chipmaker is also set for its best single-day performance since October 1987. Other semiconductor companies, including AMD (AMD), Lam Research (LRCX), and Qualcomm (QCOM), are trading higher in sympathy.

Magnificent 7 Lift Nasdaq on Meta–Amazon Chip Deal

The Magnificent 7 are driving the gains as well. This morning, Meta Platforms (META) announced a multi-year partnership with Amazon (AMZN) to use Graviton chips for agentic AI development.

“This isn’t just about chips; it’s about giving customers the infrastructure foundation, as well as data and inference services, to build AI that understands, anticipates, and scales efficiently to billions of people worldwide,” said Amazon vice president Nafea Bshara.

The Nasdaq 100 has powered higher since the U.S. and Iran reached a ceasefire and has returned 18% since March 30.