Key Highlights

● Applied Materials shares surged to about $512.29 on Tuesday, September 29, 2026, among the standout gainers on the Nasdaq-100.

● Semiconductor stocks bounced back from a recent selloff, with the U.S. chip index climbing on the session.

● A leaked Anthropic IPO prospectus, as reported, pointed to $518 billion in planned compute and infrastructure obligations.

● The chip rally helped the Nasdaq-100 edge higher to 30,339.33 while the S&P 500 finished lower.

Applied Materials, Inc. (NASDAQ:AMAT) surged on Tuesday, September 29, 2026, closing at about $512.29. The chip-equipment maker was one of the standout gainers on the Nasdaq-100 as semiconductor stocks bounced back from a recent selloff, with the move tied to the chip-sector rebound and to Demand for AI chip-making equipment.

Picks and Shovels of the AI Boom

Applied Materials makes the equipment used to manufacture semiconductors, so its shares often move with expectations for chipmakers' spending. Investors often buy equipment stocks as a way to bet on rising industry spending without picking which chip designer will win. Tuesday's news flow reinforced the scale of AI investment: a leaked Anthropic IPO prospectus, as reported, pointed to $518 billion in planned compute and infrastructure obligations, along with 12-fold Revenue growth in 2025.

A Broad Chip Rebound

The U.S. chip index climbed, and the main semiconductor exchange-traded fund was among the best-performing sector funds. Arm Holdings (NASDAQ:ARM) jumped and Marvell Technology (NASDAQ:MRVL) climbed, though the recovery was uneven. Broadcom (NASDAQ:AVGO) also rose, and Advanced Micro Devices (NASDAQ:AMD) gained after agreeing to buy World Labs for $8.2 billion in stock. ASML (NASDAQ:ASML) traded higher early, and Micron Technology (NASDAQ:MU) also traded higher early ahead of its fiscal fourth-quarter results.

Nasdaq-100 Bucks the Trend

The Nasdaq-100 edged higher to 30,339.33 on the chip rally, even as the S&P 500 slipped 12.85 points to 7,670.84 and the Dow Jones Industrial Average fell 131.59 points to 51,349.92. The Nasdaq Composite ended nearly flat at 26,797.54. The 30-year Treasury Yield reached its highest level since 2002, and the 10-year touched its highest in roughly two decades. Consumer confidence dropped to 81.9 from 88.6, the lowest since 2014, according to the Conference Board.

Fed Voices and Oil

Chicago Fed President Austan Goolsbee said the U.S. has been 5-1/2 years above its Inflation target and called that playing with fire. New York Fed President John Williams said there is no need for urgency after the central bank's September meeting, and odds of an October rate hike fell to roughly a coin flip. West Texas Intermediate crude settled $3.22 lower at $89.38 a barrel as Middle East exports recovered. August Job Openings slipped to 7.079 million, below forecasts and the lowest since March. It was the fifth loss in six sessions for the three major indexes.

Equipment Makers Lead the Rebound

Energy finished as the worst-performing sector on the day, while semiconductors were among the strongest groups.