Nasdaq Climbs 14% on AI Chip Surge, Broadcom and ASML Lead Gains

*TL;DR: Nasdaq up 14% in a month, powered by AI chip demand; Broadcom jumps 34% and ASML ramps EUV machine output.

The Nasdaq Composite index added 14% over the past 30 days, marking the strongest monthly gain for the tech‑heavy benchmark this year. Investor confidence rebounded after March’s geopolitical turbulence, and the rally coincides with the start of the earnings season, where tech firms are projected to post 45% earnings growth in the first quarter.

Broadcom’s shares surged 34% in the same period, reflecting soaring demand for its application‑specific integrated circuits (ASICs). These custom AI processors, designed for inference workloads in data‑center servers, lower power use and operating costs. Major AI players such as Meta Platforms, Anthropic and OpenAI have signed deals for Broadcom‑built ASICs, and the company announced a deeper partnership with Meta in April to develop chips for Meta’s AI data centers. Broadcom reported $8.4 billion in AI chip revenue for the quarter ending February 1, and it targets more than $100 billion in AI chip sales by 2027.

ASML Holding also benefited from the AI boom. The Dutch lithography specialist plans to produce at least 60 low‑numerical‑aperture (low‑NA) extreme ultraviolet (EUV) machines this year, each priced above $180 million, and aims for 80 units in 2027. EUV tools are essential for fabricating the sub‑7‑nanometer chips that power AI accelerators, smartphones and PCs. ASML’s 2025 revenue of $37 billion positions it for over 20% annual growth, supported by an expected 22% yearly rise in demand for leading‑edge nodes through 2030.

The combined effect of Broadcom’s ASIC expansion and ASML’s EUV output boost underscores a broader AI infrastructure tailwind. As data‑center operators seek more efficient hardware, chipmakers that supply both the silicon and the manufacturing equipment stand to capture a larger share of AI‑related spending. This dynamic is a key driver behind the Nasdaq’s recent outperformance and suggests continued momentum for semiconductor stocks.

What to watch next: Monitor quarterly earnings from AI‑focused chipmakers and updates on ASML’s EUV delivery schedule, as both will signal whether the current rally can sustain its pace into the second half of the year.