AI-driven tech melt-up fuels $3.5T Nasdaq 100 surge in four days

The Nasdaq 100 has added about $3.5 trillion in market value over four trading sessions, driven by strong technology earnings and renewed optimism that artificial intelligence spending will keep growing. The rally is concentrated in semiconductor, software, and hyperscaler names that can show clear AI-related revenue gains, while stocks without obvious monetization of AI are lagging. This has created a sharp divergence within the index and reinforced investor preference for companies perceived as direct AI beneficiaries. The move suggests markets are still rewarding tangible AI execution rather than hype, supporting the broader tech-led advance.