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Stock Market Today: Nasdaq 100 Rises on Strong AI Earnings, Benign Inflation

Reviewed by ClearTape · Source: Benzinga

Key takeaways

  • The Nasdaq 100 rose 0.7% on Wednesday, driven by strong earnings from AI infrastructure companies.
  • CoreWeave's revenue up 112% year-over-year to $2.58 billion
  • Lumentum's revenue more than doubling to $1.01 billion
  • Nasdaq 100 rising 0.7% on Wednesday

What happened

The Nasdaq 100 rose 0.7% to 29,717.90 on Wednesday, driven by strong earnings from artificial intelligence infrastructure companies.

Why it matters

The earnings beat from AI companies like CoreWeave, H&R Block, and Lumentum Holdings boosted semiconductor and optical networking stocks, pushing the Nasdaq 100 higher.

Short-term and longer-term

Short-term. The strong earnings from AI companies like CoreWeave and Lumentum Holdings have raised questions about the sustainability of the current market rally and the potential for further upside in the AI sector.

Longer-term. The strong earnings from AI companies like CoreWeave and Lumentum Holdings have raised questions about the potential for further upside in the AI sector.

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