Chip Rally Fuels S&P 500 and Nasdaq Records

U.S. megacap tech stocks traded lower in pre-market activity on May 21, with Intel sliding more than 2%. Nvidia fell about 0.66%, Microsoft down 0.44%, Meta 0.35%, Apple 0.24%, Amazon 0.22% and Google 0.13%; Tesla bucked the trend, rising over 1%. The brief market update from 36Kr highlights widespread, modest declines across major hardware, software and internet platforms, signaling cautious investor sentiment ahead of regular trading. These moves matter because shifts in megacap tech indices can influence broader market direction, affect sector ETFs and reflect reactions to earnings, guidance or macro news that drive tech valuations and capital flows.

European AI and tech-related stocks have led a blockbuster rally this year as investors chase exposure to artificial intelligence and chip-demand themes. The story highlights major movers — including Nvidia-driven supply chains, chipmakers like AMD planning $10 billion investment in Taiwan, and software and gaming firms reacting to sector shifts — and notes outsized gains across the region. Analysts attribute the surge to expectations of accelerating AI adoption, data-center spending, and semiconductor supply-chain plays, while cautioning about concentration risks and valuation stretch. The trend matters because it signals global capital flows favoring AI hardware and software leaders, influencing corporate strategy, M&A activity and regional tech policy.