The drama of earnings season continued on Thursday as investors digested the latest financial reports and what they mean in terms of the ongoing economic recovery.
Investors have been sitting on the edge of their seats waiting to learn if the accelerating adoption of artificial intelligence (AI), which began in earnest last year, will help drive technology stocks to new heights. Solid results and a blockbuster forecast from a company deeply integrated in the AI space helped lift other stocks in the sector.
With that as a backdrop, AI server specialist Super Micro Computer (NASDAQ: SMCI) rose 1.6%, AI solutions provider C3.ai (NYSE: AI) climbed 3.4%, chipmaker Taiwan Semiconductor Manufacturing (NYSE: TSM) jumped 6.8%, warehouse-automation specialist Symbotic (NASDAQ: SYM) soared 9.2%, and AI audio-solutions provider SoundHound AI (NASDAQ: SOUN) surged 14.6% by the time the market closed on Thursday.
A check of all the usual suspects — regulatory filings, financial reports, and changes to analysts’ price targets — turned up nothing in the way of company-specific news driving any of these AI stocks higher. This suggests that most investors were captivated by how AI affected the quarterly financial results of Arm Holdings (NASDAQ: ARM).
A surprisingly strong performance
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why-super-micro-computer-c3-ai-taiwan-semiconductor-and-other-artificial-intelligence-ai-stocks-rallied-on-thursday
