Tech Advances as AI Stock Craze Continues - Tech Roundup
Shares of technology companies rose as progress on U.S.-Chinese trade talks whetted risk appetite.
Traders chased gains in mega-cap artificial-intelligence specialists.
"We hear more and more talk about 'are we in a bubble?'" said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "Yes [the tech sector] is going up rapidly, but so are earnings and so are revenues."
Qualcomm shares leapt by more than 10% after the chip designer launched a chip for AI data centers. Nvidia, the company that dominates the AI chip market, rose to new highs.
The Roundhill Magnificent Seven exchange-traded fund, which tracks the largest seven U.S. tech companies, hit all-time highs. Five of those seven companies, including three of the main AI players -- Alphabet, Meta Platforms and Microsoft -- will report earnings later in the week.
Australia's consumer watchdog is suing Microsoft, alleging the U.S. tech giant misled its 2.7 million customers by making it difficult for them to avoid paying for new AI services.
Mercor, a startup that recruits people to train and improve top AI models, is finalizing a new funding deal that would value the company at $10 billion.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 27, 2025 17:17 ET (21:17 GMT)
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