S&P 500 and Nasdaq surge to record highs after AI chipmaker rally

Impact · against what's priced in

The rally in AI chipmakers provides little fundamental catalyst as current valuations already assume high growth trajectories. The only material movement is the modest negative pressure from 10-year Treasury yields hitting 5.349%, which tests the market's current refusal to price in a valuation crush for long-duration tech.

AMD+0.00

Already priced in

The price assumes

Current Data Center revenue of $16.64 billion and its 107% year-over-year growth rate