Nasdaq Hits Record Highs Fueled by AI Optimism and Strong Services Data

Key Facts

1The Nasdaq Composite and Nasdaq 100 indices traded above previous record closing levels driven by AI infrastructure investment.

2Nvidia shares reached a new record high amid continued optimism surrounding AI spending.

3S&P Global services data suggested healthy business demand, supporting expectations for continued economic growth.

The Nasdaq Composite and Nasdaq 100 indices traded above their previous record closing levels, driven by robust investment in artificial intelligence infrastructure. According to investinglive.com, Nvidia shares reached a new record high amid persistent optimism regarding AI spending, while S&P Global services data indicated healthy business demand, supporting expectations for continued economic expansion.

NVDA closed at $233.95 on October 2, 2026, after reaching a session high of $237.88. Within the semiconductor peer group, AMD closed at $633.91 and TSM finished at $472.78 on the same date. These gains follow a cooling labor market report that reduced the probability of an October rate hike to below 20%, reinforcing the outlook for a resilient economic soft landing.