Bob Iaccino analyzes the recent rally in June Nasdaq-100 futures, which reached a new all-time high of 29,565.50. He highlights the driving force behind this momentum, noting that semiconductor stocks and AI infrastructure buildouts are carrying the broader index. Despite the 10-Year yield hitting its highest level in almost a year, Iaccino explains why top chip designers remain insulated. Because these companies generate significant internal cash to fund operations, they rely less on the bond market, shifting the financing burden to their hyperscaler customers and mitigating the overall impact of rising rates on the tech index.