The Nasdaq 100 just added $3.5 trillion in market capitalization over four trading days. To put that number in perspective, that’s roughly the entire GDP of Germany appearing on balance sheets between Friday and Tuesday.
The index surged 9.3% from August 1 to August 5, marking its strongest four-day performance since April 2025. The catalyst was a wave of robust earnings reports from major technology firms that reminded Wall Street why it fell in love with AI stocks in the first place.
What fueled the rally
After an 11% pullback had pushed the Nasdaq 100 into technical correction territory, big tech showed up with numbers that made the selloff look like a buying opportunity in hindsight.
Semiconductor stocks led the charge. The Philadelphia Semiconductor Index gained more than 7% in a single trading session during the broader rally.
