Business · Malaysia Bureau
Nasdaq hits record high as tech stocks surge on AI optimism
The technology-focused Nasdaq index reached new peaks as artificial intelligence-related equities, including memory chipmaker Micron Technology, drove gains across the sector. Oil prices eased amid improved crude supply flows.
LSN Malaysia ·
Technology stocks propelled major indices higher as investors maintained confidence in the sector's growth prospects and corporate earnings resilience. Micron Technology and other companies positioned in artificial intelligence and semiconductor markets led the advance, reflecting sustained investor appetite for companies expected to benefit from AI expansion.
The Nasdaq's record-setting performance underscores continued strength in demand for technology equities despite broader economic uncertainties. Earnings reports from major corporations have largely met or exceeded expectations, providing fundamental support for equity valuations in the sector.
Meanwhile, crude oil prices declined as improved flows from production facilities eased supply concerns. The modest pullback in energy prices reflects better-than-expected crude output and inventory management across major producing regions.
Analysts attribute the technology sector's momentum to growing corporate and consumer adoption of AI applications, which is expected to drive productivity gains and create new revenue streams for technology companies. The combination of robust earnings and positive market sentiment has sustained investor interest in equities despite periodic macroeconomic headwinds.