Micron Technology Inc. (MU) shares surged 12% on Tuesday after Bank of America argued that the rapid emergence of low-cost, open-source Chinese artificial intelligence models could increase, rather than reduce, demand for memory chips. The rally came ahead of a key week for the technology sector, with investors awaiting earnings from Alphabet and other major
Palo Alto Networks Inc. (PANW) is emerging as one of Wall Street’s preferred cybersecurity plays as concerns over increasingly powerful artificial intelligence models drive demand for security products and services. The view follows comments from International Business Machines (IBM), which said last week that enterprise customers are placing greater emphasis on cybersecurity as more advanced
US stocks closed sharply higher on Tuesday, led by a strong rebound in semiconductor shares as investors looked past geopolitical tensions in the Middle East and focused on the upcoming wave of Big Tech earnings reports. The Dow Jones Industrial Average rose 384.46 points, or 0.74%, to close at 52,223.72. The S&P 500 gained 0.86%
IREN Ltd (IREN) shares are ripping higher this morning following a significant operational update that alleviate capital expenditure concerns and boosts the firm’s long-term financial outlook. The Australian vertically integrated data center and artificial intelligence (AI) cloud company says it has signed $2.8 billion in total contract value across new multi-year cloud services contracts. Despite
ServiceNow stock has dropped and underperformed the market this year as demand for software companies waned. NOW has dropped by 32% this year and 46% in the last 12 months, erasing billions of dollars in value. Investors are now focusing on its earnings for more cues on how it is adapting to the artificial intelligence
SpaceX (SPCX) shares continued their decline on Monday, falling about 1.25% to around $122. The stock remained well below its $135 initial public offering price. The latest decline follows a sharp selloff over recent trading sessions. Shares fell 5.4% on Friday, leaving the company with a market capitalization of about $1.60 trillion, down from approximately
Oracle ORCL shares fell more than 3.5% on Monday after CLSA initiated coverage with a Hold rating, warning that the software company could require as much as $500 billion in capital to support its artificial intelligence cloud expansion through 2030. The brokerage said Oracle’s internal cash generation would be sufficient to fund only around one-fifth
Shares of Archer Aviation ACHR surged more than 18% on Monday after the electric vertical takeoff and landing (eVTOL) aircraft maker unveiled a new autonomous aircraft platform developed jointly with defense technology company Anduril Industries, marking a major expansion beyond its core urban air mobility business. The companies introduced a dual-use hybrid-electric vertical lift platform
MarketAxess stock has been in a steep decline this year and is now hovering near its lowest level in more than a decade. Shares were trading at $114.24 on Monday, down 81% from their all-time high, wiping out much of the company’s value as its market capitalization plunged from more than $21 billion to about
Nvidia (NVDA) stock traded modestly higher on Monday, but investor attention is increasingly shifting toward the upcoming earnings season, where major technology companies are expected to provide fresh updates on artificial intelligence spending. Shares of the AI chipmaker rose 0.93% to $204.69 on Monday, although the gain trailed the 1.8% advance in the PHLX Semiconductor