What happened? A number of stocks jumped in the afternoon session after strong demand for artificial intelligence hardware and robust corporate earnings reignited investor optimism across the broader AI technology landscape. As reported by CNBC, this rally lifted major players across semiconductor manufacturing and cloud computing infrastructure—including AMD, Nvidia, Micron, and Marvell—after SpaceX reported a massive 161% jump in third-quarter revenue. The network noted that investors responded enthusiastically to these results as clear indications that spending on artificial intelligence remains resilient, particularly after SpaceX revealed its AI business grew ninefold to generate $7.56 billion in the quarter.
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