US stocks today: US stocks rise as SpaceX, Super Micro revive appetite for AI stocks

Wall Street opened higher on Wednesday as strong results from SpaceX and Super Micro Computer helped revive investor appetite for AI linked stocks, offering some relief after last week’s selloff over concerns about the profitability of the sector, according to Reuters report.

The Nasdaq led the gains, rising 0.56%, while the S&P 500 advanced 0.23% and the Dow Jones Industrial Average gained 0.17%. Technology and chip stocks drove the rebound, although weakness in Netflix and other communication services shares capped the broader advance.

SpaceX, Super Micro lift AI sentiment

SpaceX surged 10.7% after Elon Musk said a merger with Tesla would be "a good idea", while the rocket and space technology company also posted its first profit as a public company, according to Reuters. Tesla shares gained 3.7%.


Super Micro climbed 12% to become the top gainer on the S&P 500 after the AI server maker forecast quarterly revenue and profit margin above Wall Street estimates. The outlook gave investors a fresh signal that demand for AI infrastructure remained resilient.

HPE and Dell also advanced 3% and 5%, respectively. The Philadelphia SE Semiconductor index gained 1.2%, with most chip stocks rebounding after an eight session losing streak, its longest in 18 years.

Still, caution around the AI trade remained. CoreWeave fell 2.4%, suggesting investors were yet to fully shake off concerns about whether massive spending on AI infrastructure can translate into sustainable profits.

"At this stage, it's important to focus on what impacts the bottom line. Corporate earnings matter. Inflation matters because it influences what the Fed may do next," said Adam Sarhan, director at MarketTerminal.com, according to Reuters.

Netflix, AT&T drag on market

Netflix fell 2.5% after the streaming giant issued a weaker than expected forecast for fourth quarter profit, while AT&T dropped about 4.4% despite beating third quarter revenue and profit estimates. Abbott Laboratories fell 2.6% after cutting its 2026 sales growth forecast, Reuters reported.

Investors are now focusing on earnings from major AI linked companies, with Meta and Tesla scheduled to report after the market close. The results could offer further clues on whether the AI spending cycle can remain durable as investors also assess the impact of rising oil prices.

Brent crude futures remained near $110 a barrel. Recent data showing broader price pressures have kept interest rate expectations in focus, although markets largely expect the Federal Reserve to remain on hold.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)