US Stocks Rise on AI Gains

US stock indices closed mostly higher on Wednesday after strong results from AI companies and a relatively tame CPI print. 7%, and the Dow closed nearly flat. 3% after posting stronger-than-expected sales results. SMCI soared 19% after its revenue forecast came in above expectations.

Chip producers gained following strong results from Tencent, while Temasek took fresh stakes in SK Hynix and Samsung. The results injected fresh optimism into AI infrastructure stocks amid their volatile start to the third quarter. 9%) were up. Meanwhile, new inflation data showed relatively stable core inflation, easing pressure on the FOMC to raise interest rates.

Still, uncertainty over the return of energy supplies from the Middle East maintained inflationary concerns. 8%.