Nasdaq rises over 1% as SpaceX and Super Micro lift AI stocks
Nasdaq gained more than 1% on Wednesday as strong results from SpaceX and Super Micro Computer revived appetite for AI-related shares, while Netflix fell.
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what happened
According to Reuters, the tech-heavy Nasdaq led Wall Street higher on Wednesday after quarterly results from SpaceX and Super Micro Computer boosted investor interest in artificial intelligence stocks. SpaceX shares climbed 7% after the rocket and space company reported its first profit as a public company. Super Micro rose more than 9% after forecasting quarterly revenue and margin above market estimates.
Netflix dropped 4.5% on a weaker fourth-quarter profit forecast, and AT&T fell 6.3% despite beating third-quarter revenue and profit expectations.
why it matters
The rebound followed a week of selling in AI-linked shares, when a chip index posted its longest losing streak in 18 years. Investors are now waiting for reports from Meta and Tesla to see whether AI spending remains profitable, and sentiment in the sector can shift quickly.
market impact
Tech and AI stocks: strong results from Super Micro and SpaceX support the sector; Netflix and AT&T under pressure
tags
instruments
sources
- Nasdaq climbs over 1% as SpaceX, Super Micro boost AI sentiment — Reuters, 21 October 2026 at 18:53 UTC
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