Broadcom, AMD, and Palantir post triple-digit growth, fueling Nasdaq gains amid strong AI demand and raised guidance.
The Nasdaq-100 climbed 26% in the first half of 2026, outpacing the Dow’s 8% gain, as AI-driven stocks led the rally. Broadcom guided Q3 AI semiconductor revenue to $16 billion, a more than 200% increase, while AMD shares surged 153% year-to-date on robust GPU demand.
Palantir reported Q1 2026 revenue of $1.63 billion, up 85% year-over-year, with U.S. commercial revenue jumping 133% to $595 million. Adjusted EPS of $0.33 beat estimates by 18%, marking the eighth consecutive quarter of outperformance. CEO Alex Karp raised full-year guidance to 71% growth and highlighted a Rule of 40 score of 145%.
The Dow’s modest 8% gain contrasted with the Nasdaq’s momentum, driven by AI infrastructure stocks. Analysts point to growth rates above 40% and AI revenue doubling annually as key catalysts for the sector’s outperformance.