Nasdaq 100 Rips 2.4% Higher as Chip Stocks Add $600B at the Open

The Nasdaq 100 stretched its daily advance to 2.4%, and the chip complex supplied the muscle. According to the Kobeissi Letter, semiconductor stocks piled on close to $600 billion in market capitalization at the open, a figure large enough to drag the whole index higher on its own.

The move landed fast. The Kobeissi Letter flagged the gain in a breaking post as trading got underway, framing the chip-stock surge as the engine behind the index's climb. Nearly $600 billion in fresh market value is the kind of number that reshapes the day's leaderboard within minutes of the opening bell.

No further details on individual names or the drivers behind the pop were included in the report. What's clear from the numbers is that the rally was concentrated rather than broad, with chipmakers carrying the load.

The question now is whether the momentum sticks or fades as the session wears on. Chip names opened with a head start of hundreds of billions of dollars in combined value, and traders will be watching to see if that cushion holds.