Technology stocks rose as sentiment improved ahead of SpaceX's inclusion in the Nasdaq 100. The move came alongside looming chip-sector listings, a TeraWulf-Anthropic AI campus deal, and 3,200 job cuts at Microsoft's Xbox unit.
Shares across the technology sector rose as sentiment improved ahead of SpaceX's entry into the Nasdaq 100.
Chip listings loom
Investors are bracing for an update from chip maker Samsung on Tuesday. That report lands just before a landmark listing: SK Hynix's $29 billion U.S. stock-market listing, which will follow a few days later and is set to be one of the biggest share sales in history.
Microsoft trims Xbox
Microsoft will cut some 3,200 jobs from its Xbox videogames division as it restructures the struggling business. The company will lay off 1,600 people this week and 1,250 more during the rest of the fiscal year that began this month, Xbox Chief Executive Asha Sharma said in a memo to staff.
Microsoft is also selling or spinning off four game development studios and exploring strategic options for a fifth, moves that will take at least 350 additional people off its payroll.
AI deals extend the rally
TeraWulf will partner with Anthropic to build an AI infrastructure campus in Kentucky that could generate $19 billion in revenue and bring 400 megawatts of computing power online by 2028. The digital-infrastructure company said Monday the project is backed by a 20-year lease and supported by an investment-grade credit profile.
Shares of Ceva climbed after the company said it inked an AI licensing deal with a major U.S. software and AI-platform company.
Source: MarketScreener
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