Tech up as SK Hynix, Oracle Ease AI Worries

Dow Jones10-29 05:37

Shares of technology companies rose as fears about debt associated with the artificial-intelligence buildout subsided.

Shares of Oracle rallied after the software maker, which has borrowed heavily to fund data-center development, forecast revenue growth and said its capital-expenditure binge would soon peak.

In another development that eased AI fears, shares of SK Hynix soared. The South Korean memory-chip maker said it plans to return a total of $75 billion to shareholders this year, a sign it was anticipating a windfall from AI demand to continue.

The relief rally could stall Thursday after mixed earnings from hyperscalers after the bell, however.

Shares of Microsoft rose after it posted quarterly revenue ahead of Wall Street targets.

Google parent Alphabet tumbled after its revenue was slightly below analysts' expectations.

Sen. Elizabeth Warren wrote a letter to Anthropic, saying she was "deeply troubled" by risks the company raised in its initial public offering paperwork and demanding the company address the potential "existential" threat posed by AI before it goes public.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment