AI stocks rally on Musk's insatiable demand comment, Super Micro forecast
QQQ•AI infrastructure stocks rose in extended trading after Elon Musk said demand for compute was insatiable and Super Micro gave a strong forecast. Applied Digital gained about 4%, CoreWeave and IREN about 5%, Nebius Group about 6%, and Super Micro 6%.
1. AI shares rise
Shares of AI infrastructure providers gained in extended trading after Elon Musk said SpaceX was being hounded by hyperscalers and smaller companies to rent more compute, adding that the company could rent out its compute several times over if it accepted every request. Applied Digital rose about 4%, CoreWeave and IREN gained about 5%, and Nebius Group was up about 6%.
2. Server makers advance
Super Micro gained 6% after giving a strong forecast. Dell rose about 6% and Hewlett Packard Enterprise gained just over 5%; Hut 8 was up 3.8% and Core Scientific 3.5%.
