Chipmakers Boost Global Stocks Amid AI Valuation Concerns

Global stocks rose as chipmakers' strong performance boosted sentiment, despite concerns over AI-related valuations. The Nasdaq saw losses amidst volatile trading in technology stocks. Investors are wary of overstretched valuations and potential interest rate hikes, while geopolitical tensions and inflation drive oil prices and currency fluctuations.

Global stock markets experienced an uplift on Thursday, buoyed by impressive earnings from chipmakers. Despite this positive trend, investors remain cautious about the inflated valuations of AI-related stocks, while the dollar stayed near its one-year peak.

Micron Technology led the surge with a 15.7% rise following a strong earnings forecast. Qualcomm also contributed to the sector’s upswing, gaining 3.8% as it projected significant revenue from its data center by 2029. Despite these advances, the Nasdaq dipped due to unstable trading among major technology stocks including Apple and Microsoft.

The broader market showed mixed results with the Dow Jones Industrial Average increasing by 0.14%, the S&P 500 remaining flat, and the Nasdaq Composite declining by 0.46%. In Europe, stocks saw a rise with the STOXX 600 climbing 0.80% amid continued economic concerns.