Tech and AI stocks rally on strong earnings, defying geopolitical and inflation headwinds
By
Dylan Butts
A good honest bake. Not flashy, but you'll finish the whole bagel.
Summary
Tech and AI stocks continue to rally strongly despite geopolitical tensions from Iran strikes and ongoing inflation concerns. Snowflake shares surged 36% after reporting blockbuster results and strong demand for AI-powered platforms, lifting the broader software sector. Dell Technologies jumped 31% on its strongest sales growth since 2018 and a major Pentagon contract, boosting its AI server business. In private markets, Anthropic has overtaken OpenAI in certain metrics. The article highlights that the AI trade remains resilient amid broader market uncertainties.
Key quotes
· 3 pulledShares of Snowflake surged 36% on Thursday after the cloud-data specialist delivered blockbuster results and highlighted explosive demand for its AI-powered platforms
Dell Technologies was right behind, jumping 31% after reporting its strongest sales growth since 2018
The company also secured a massive Pentagon contract on Wednesday, adding to investor excitement for Dell's growing AI server business
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