And some people say that there's no inflation...
Why are you mentioning inflation here? Inflation is talking about the price level of goods and services increasing - stock price increases because those Nasdaq companies are much bigger now.
And who says that there is no inflation?
Price level of goods and services increasing is not inflation. Its the result of the increase of the money supply, which should be considered inflation!
If you think about inflation this way you can understand the OP's statement.