Chip Giants Jump 2.9%, Lifting Nasdaq 100 1.3% on AI Earnings Bets
Updated
Updated · Bloomberg · Oct 19
Chip Giants Jump 2.9%, Lifting Nasdaq 100 1.3% on AI Earnings Bets
3 articles · Updated · Bloomberg · Oct 19
Summary
A rebound in crowded chip trades helped drive a broader stock-market rally, with dip buyers stepping back into AI-linked names after last week’s tech selloff.
The chip gauge rose 2.9% and the Nasdaq 100 gained 1.3% as investors bet the AI investment boom will keep supporting corporate earnings.
CoreWeave climbed 4% after Goldman Sachs recommended buying the stock following its recent plunge, adding momentum to the sector’s recovery.
Meta and Tesla earnings due this week are set to test whether confidence in AI spending and big-tech growth can sustain the rebound.