Nasdaq Gains 2% as Chip Index Rallies 7%, CoreWeave Rises Over 25%

A jump of more than 25% in CoreWeave shares led a technology rally that lifted the Nasdaq 2% and the Philadelphia Semiconductor Index 7% in intraday trading.

The S&P 500 gained 1.31%, while the Dow Jones Industrial Average rose 0.1%. Micron shares gained more than 13%, Intel rose over 9%, AMD climbed more than 7% and Broadcom advanced over 6%. Nvidia added more than 4%, ASML rose over 3% and Qualcomm gained more than 2%.

CoreWeave's advance was its largest one-day gain since June 2025. The semiconductor index's 7% rise outpaced the Nasdaq's 2% advance, while the Dow's gain was limited to 0.1%, showing how strongly the rally favored technology and chip stocks.