Shares of companies related to artificial intelligence (AI) infrastructure rose collectively after the market closed on Wednesday
Shares of companies related to artificial intelligence (AI) infrastructure rose collectively after the market closed on Wednesday. Previously, Google’s parent company Alphabet stated in an earnings call that the company planned to expand its use of third-party computing capacity in the third quarter. In terms of computing power leasing providers (Neoclouds), CoreWeave rose 3.7% and Nebius rose 5.4%. In terms of memory chip stocks, SanDisk rose 3%, Micron rose 2.9%, Western Digital rose 2%, and SK Hynix ADR rose 3.7%. In the semiconductor sector, the iShares Semiconductor ETF rose 0.9%. In terms of optical communications stocks, Lumentum rose 3.4% and Applied Optoelectronics rose 4%. Alphabet's performance report shows that the company's cloud business backlog increased to US$514 billion, a significant increase from approximately US$460 billion in the previous quarter. The strong performance was "primarily driven by strong demand for AI infrastructure and AI solutions."