01 Stock Market
Wall Street ended higher on Wednesday, extending its tech-led rally and touching two-week highs as worries over artificial intelligence disruption and costs took a back seat to renewed optimism over the nascent technology's potential benefits.
All three major U.S. stock indexes advanced, with the Nasdaq, powered by chips, enjoying the largest percentage gain as markets near the end of a tumultuous month that was marked by concerns over massive investment in AI infrastructure and the extent to which it could disrupt myriad industries.
Dow Jones up 0.63% at 49,482.15; S&P 500 up 0.81% at 6,946.13; NASDAQ up 1.26% at 23,152.08. As of Feb 26, large-cap technology and AI-linked names paced gains into the close, with investors digesting upbeat guidance and deal headlines alongside crypto-adjacent strength.
Unusual-move stocks clustered around AI, crypto infrastructure, and megacap tech leadership. Notable movers included: CRCL up 35.47% at $83.14; COIN up 13.52% at $183.94; NFLX up 5.97% at $82.70; SOXL up 4.86% at $71.86; PLTR up 4.15% at $134.19; NVDL up 3.08% at $94.06; MSFT up 2.98% at $400.60; MU up 2.63% at $429.00; TSLA up 1.96% at $417.40; NVDA up 1.41% at $195.56; ORCL up 1.20% at $147.89; AAPL up 0.77% at $274.23; AMD down 1.39% at $210.86.
Broader tech benchmarks and proxies also advanced with selective strength in semis and crypto-adjacent plays. Among ETFs and bellwethers: QQQ up 1.45% at $616.68; SPY up 0.84% at $693.15; VOO up 0.84% at $637.53. Key chip and platform names firmed, including INTC up 1.65% at $46.88 and TSM up 0.51% at $387.73, while precious-metals proxies AGQ up 2.18% at $172.63 and SLV up 1.21% at $80.04 reflected defensive interest.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.05%, latest at 4.05%.
USD/CNH was unchanged at 6.87; USD/HKD fell 0.0090%, at 7.82.
U.S. Dollar Index fell 0.03%, at 97.62.
WTI crude futures rose 0.34%, at 65.64 USD/bbl; COMEX gold futures rose 0.05%, at 5,186.10 USD/oz.
03 Top News
Nvidia Forecasts Upbeat Sales on AI Chip Demand, Talks up Long-Term Prospects
Chipmaker NVIDIA forecast first-quarter revenue above market estimates on Wednesday, betting on Big Tech's unabated spending on its artificial-intelligence processors.
The company said it had secured enough chip inventory and capacity to meet demand beyond the next several quarters, seeking to alleviate concerns that a supply crunch at its chip contract maker Taiwan Semiconductor Manufacturing was getting in the way of its growth. The shortage, though, will affect its gaming business, the company said.
C3.ai Cuts 26% of Global Staff Under New CEO's Restructuring Push
Software provider C3.ai, Inc. said it is cutting 26% of its global workforce as part of a restructuring push under new CEO Stephen Ehikian, and also forecast current-quarter sales below estimates, sending its shares down 23% in extended trading.
The company, which had roughly 1,181 full-time employees as of April 30, 2025, said on Wednesday it expected to record about $10 million to $12 million in restructuring charges this quarter, and aims to cut non-wages-related costs by around 30% by late 2027.
Circle Surges the Most Since IPO After Results Top Estimates
Shares of Circle Internet Corp. jumped 35%, the most since its high-profile public debut last year, after the company said strong demand for its stablecoin bolstered profit and revenue during the fourth-quarter downturn in digital assets.
The amount of Circle’s USDC stablecoin in circulation rose 72% to $75.3 billion from the year-earlier period, while the company noted that its reserve return rate was 3.8% in the quarter ended Dec. 31. Circle earns most of its profit from the interest paid on US government securities that it holds in reserve to back its stablecoin.
The Trade Desk Plunges as Soft Q1 Outlook Overshadows Earnings Beat
Trade Desk Inc. shares plunged 16% in extended trading Wednesday as investors focused on a softer than expected first quarter outlook.
The adtech company reported fourth quarter revenue of $847 million, up 14% from a year earlier and above the Wall Street consensus estimate of $841 million.
Adjusted earnings per share were $0.59, topping expectations of $0.58.
Net income rose to $187 million, or $0.39 a share, from $182 million, or $0.36 a share.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
