A broad rally in semiconductor shares pushed the Philadelphia Semiconductor Index up 4% and the Nasdaq up 1.18%, with memory and optical-communications names leading. The move came as Oracle expanded partnerships with Google, Intel and Nvidia, and solar stocks also jumped.
Netflix reported $12.9 billion in quarterly revenue, up 12%, and a 34.6% operating margin, yet the stock slipped after hours as guidance fell short. The streaming giant's next act increasingly resembles the cable bundle it once disrupted.
US investment-grade bond issuance is set to hit $1.76 trillion this year, surpassing the 2020 pandemic-era record, as companies borrow heavily to fund AI spending. Citadel Securities warns the market has little room for error if those outlays fail to generate returns.
Citadel Securities warns that the enormous scale of AI investment leaves markets almost no room for disappointment, while Goldman Sachs says hedge funds dumped tech stocks at the fastest pace in two years.
America's 30-year government borrowing cost climbed to 5.69%, its highest since 2002, while the Nasdaq set a fresh intraday record. The split tells a simple story: investors want compensation for long-term risk, not a rejection of growth.
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