S&P 500 Rallies on Tech Strength as Qualcomm Enters AI Data Center Market
Semiconductor stocks led gains in the S&P 500 as Qualcomm surged 11% following its entry into the AI data center chip market. The MOVE signals a strategic expansion beyond mobile devices for the chipmaker, coinciding with record highs for major indices amid improving US-China trade sentiment.
Newmont Corporation shares declined alongside falling Gold prices, contrasting with the broader market rally. The tech-heavy Nasdaq outperformed with a 1.9% gain, buoyed by strong performances in communication services and semiconductor sectors.
Keurig Dr Pepper joined the advancers with a 7.7% rise after beating revenue estimates, though the session's spotlight remained firmly on Qualcomm's strategic pivot toward AI infrastructure - a sector witnessing explosive growth across both traditional finance and cryptocurrency ecosystems.
