Nasdaq Hits Record High as AI Stocks Rally

The Nasdaq Composite reached a record closing high on September 21, 2026, driven by a massive rally in artificial intelligence stocks. Advanced Micro Devices reached a $1 trillion market capitalization for the first time, while Meta Platforms shares jumped over 11% following the launch of its Muse AI assistant and a price-target upgrade from Wells Fargo.

Market optimism was further bolstered by a decline in Brent crude oil prices, which fell toward $100 a barrel, and a retreat in U.S. 10-year Treasury yields below 5%. This shift followed signals from President Donald Trump that he is open to meeting Iranian President Masoud Pezeshkian during the UN General Assembly in New York, as well as a proposed $5 billion fund to rebuild Middle East energy infrastructure.

In the media sector, Paramount Global reached an antitrust settlement with 12 state attorneys general, clearing the way for its $81 billion acquisition of Warner Bros. Discovery. Shares of Warner Bros. Discovery surged nearly 11% in response to the settlement.

Geopolitical tensions eased as U.S. Treasury Secretary Scott Bessent held successful talks with Chinese Vice Premier He Lifeng. This paved the way for a state visit by Chinese President Xi Jinping to Washington from September 23 to 25 to discuss trade truce extensions and AI regulation. Despite the rally, some investors remained cautious following recent interest rate hikes by the Federal Reserve System and the Bank of Japan.