From BigGo Finance · BigGo Finance · · 1m 30s
SpaceX and Super Micro Earnings Boost AI Trade
SpaceX's first profit and Super Micro's revenue hike lift Nasdaq 1% as AI market fears ease.
In brief
SpaceX's first profit and Super Micro's revenue hike lift Nasdaq 1% as AI market fears ease. SpaceX reported its first profit as a public company with $14.58 billion quarterly revenue, while Super Micro raised its quarterly revenue guidance to $18.5 billion-$19.5 billion, boosting Nasdaq by 1.05% and easing AI trade…
SpaceX reports first profit
SpaceX rose 7.8% after reporting its first profit as a public company with quarterly revenue up 161% to $14.58 billion.
“SpaceX, the rocket and satellite-internet company led by Elon Musk, jumped 7.8% after reporting its first profit as a public company”
Super Micro raises revenue guidance
Super Micro Computer increased its fiscal first-quarter revenue guidance to $18.5 billion-$19.5 billion, up from $14.5 billion-$15.5 billion.
“Super Micro Computer, the AI server maker, rose 9.5% after forecasting quarterly revenue and profit margin above Wall Street estimates”
Nasdaq and Dow gain
The Nasdaq Composite gained 278.04 points or 1.05% to 26,702.86, while the Dow Jones Industrial Average rose 360.21 points or 0.69% to 52,856.09.
“Wall Street closed broadly higher on Wednesday after quarterly results from SpaceX and Super Micro Computer eased fears that the artificial intelligence spending boom is running out of steam”
AI market concerns ease
Investors eased fears that the AI spending boom was running out of steam after SpaceX and Super Micro reported stronger-than-expected results.
“A lot of the concerns that we had over the last few weeks that sent the market lower are being alleviated”
Netflix falls short
Netflix dropped 4.5% after its quarterly forecast fell short of expectations despite a 12% revenue increase.
“Netflix fell 4.5% to $65.58 after its outlook disappointed investors”
French bond yield rises
France's 10-year government bond yield climbed above 5% for the first time since 2002, causing market anxiety.
“The country's 10-year government bond yield climbed above 5% for the first time since 2.02”
Carrefour cuts guidance
Carrefour slumped 13% after cutting its guidance due to recent protests.
“French supermarket operator Carrefour tumbled about 13% after cutting its guidance, citing recent protests”
AI computing demand remains strong
Analysts say demand for AI computing remains intact even as borrowing costs stay elevated.
“The session's message, analysts said, is that demand for AI computing remains intact even as borrowing costs stay elevated”
The big picture
SpaceX reported its first profit as a public company with $14.58 billion quarterly revenue, while Super Micro raised its quarterly revenue guidance to $18.5 billion-$19.5 billion, boosting Nasdaq by 1.05% and easing AI trade concerns.
