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#NasdaqHitsRecordHigh The Nasdaq reached a record as chip stocks and other AI-related companies led a broad technology rally. Investors were encouraged by easing oil prices, slightly softer bond-market pressure and continued confidence in corporate AI spending. A record index does not mean risks have disappeared. Valuations remain sensitive to interest rates, and the AI trade is increasingly concentrated in a small group of companies. My view is that the Nasdaq can continue rising if earnings growth catches up with expectations, but the market needs broader participation and stronger free-cash-flow evidence. If yields rise again, high-duration technology stocks may quickly come under pressure.