20 hrs ago
AI Chip Rally Helps Nasdaq Reach Record Closing High
U.S. stock markets had a strong day on Monday.
The Nasdaq rose the most and finished at its highest closing level ever.
Meta's shares jumped after its new Muse AI Agent became very popular on Apple's App Store.
Investors thought successful AI agents could increase demand for powerful computer chips.
That helped Intel and AMD shares rise sharply.
Oil prices and government bond yields also fell, which supported stocks.
Bitcoin moved above $85,000 after Strategy Inc.
bought more of the cryptocurrency.
Investors were also waiting to hear Donald Trump's address at the United Nations General Assembly.
The Nasdaq Composite rose 2.2% on Monday to a record closing high, while the S&P 500 gained 1.5% and the Dow Jones added 370 points.
Meta Platforms shares jumped 11.5% after its Muse AI Agent reached the top spot among Apple App Store free applications.
The enthusiasm around AI-agent demand lifted chip stocks, with Intel gaining 12% and AMD rising 10%.
AMD became the latest chip company to reach a $1 trillion market capitalization, following Nvidia, Micron, Broadcom and TSMC.
Falling oil prices and bond yields also supported markets, while investors watched Donald Trump's planned United Nations General Assembly address.
- Who
- The Nasdaq Composite, Meta Platforms, Intel, AMD and other major U.S. market participants were involved; investors also monitored Donald Trump and Iranian President Masoud Pezeshkian.
- What
- U.S. benchmark stock indexes rose, with the Nasdaq reaching a record closing high.
- Where
- Wall Street and global financial markets.
- When
- Monday, September 21; Trump's United Nations General Assembly address was scheduled for 7:25 PM IST.
- Why
- Markets were supported by falling bond yields and oil prices, as well as strong buying in AI-linked chip stocks after positive attention around Meta's Muse AI Agent.
Key facts
- Nasdaq Composite
- Rose 2.2% to a record closing high.
- S&P 500
- Gained 1.5%, its best single-day gain in more than a month.
- Dow Jones
- Ended 370 points higher.
- Meta Platforms
- Shares gained 11.5%, their best single-day gain since April 2025.
- Chip stocks
- Intel rose 12% and AMD gained 10%.
- AMD market value
- AMD became the latest chip company to reach a $1 trillion market capitalization.
- Crude oil
- Brent crude closed at exactly $100 a barrel.
- Bitcoin
- Rose above $85,000 after Strategy Inc. made its first purchase in months.
Sources
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