AI hardware stocks surge across the board: Philadelphia Semiconductor Index up 3.60%, Meta's $25 billion stock offering oversubscribed
US AI hardware stocks surged across the board, with the Philadelphia Semiconductor Index up 3.60%, AMD up over 5%, Broadcom up 4%, and AI compute leasing provider Nebius up over 11%. Meta's $25 billion common stock offering was about five times oversubscribed, showing investors' undiminished enthusiasm for AI investment; easing US-Iran tensions pushed international oil prices down and cooled inflation expectations.
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Last night and this morning, the three major U.S. stock indices rose collectively. As of the close, the tech-heavy Nasdaq index rose 1.18%, the S&P 500 index rose 0.60%, and the Dow rose 0.06%.
The AI hardware sector surged sharply, with the Philadelphia Semiconductor Index jumping 3.60%. Among individual stocks, Advanced Micro Devices rose more than 5%, Broadcom rose 4%, Intel, Texas Instruments, GlobalFoundries, and NXP Semiconductors rose more than 3%, ASML rose nearly 3%, and Qualcomm rose more than 2%. Optical communications and memory chip concept stocks strengthened, with Credo Technology up more than 10%, Western Digital up nearly 7%, Coherent up more than 6%, Lumentum up 5.88%, Marvell Technology up more than 4%, SanDisk up nearly 4%, and Micron Technology up 2.77%.
Shares of AI computing power leasing companies climbed sharply, with Nebius up more than 11%, and Coreweave and IREN up nearly 8%.
Most large technology stocks rose, with Tesla up more than 4%, Amazon up 1.61%, Google A up more than 1%, Apple up 0.93%, Nvidia up 0.90%, and Microsoft down 0.24%.
From a news perspective, technology stocks received two major boosts: first, Meta's $25 billion common stock offering received enthusiastic subscription from investors, with demand reaching about five times the number of shares available for issuance, indicating that investors' enthusiasm for AI investment remains undiminished; second, the easing of U.S.-Iran tensions drove international oil prices sharply lower, cooling inflation expectations accordingly.
Light crude oil futures for December delivery on the New York Mercantile Exchange fell 1.83% at Tuesday's close to $99.90 per barrel; London Brent crude oil futures for December delivery fell 1.67% to $113.88 per barrel.
According to CME's "FedWatch": the probability that the Federal Reserve will keep interest rates unchanged this week is 92.8%, and the probability of a cumulative 25 basis point rate hike is 7.2%. The probability that the Federal Reserve will keep interest rates unchanged through December is 16.4%, the probability of a cumulative 25 basis point rate hike is 77.7%, and the probability of a cumulative 50 basis point rate hike is 5.9%.
Separately, according to a Xinhua News Agency report, according to a statement published on the website of Iran's Supreme Leader, Iran's Supreme Leader Mojtaba Khamenei met on the 27th with Secretary of Iran's Supreme National Security Council Mohsen Rezaei to discuss issues including safeguarding national and regional security through control of the Strait of Hormuz.
Regarding the conflict, Mojtaba said that "driving the enemy to despair" is one of the direct achievements of Iran's resistance. He also stressed that in order to end the conflict and the current "neither war nor peace" state and to effectively safeguard the interests of Iran and the "Axis of Resistance," the conditions set by the Iranian side should be implemented.
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(Source: Securities Times) Middle of the article Embedded advertisement