Tech Up as AI Cos Rebound — Tech Roundup

Shares of technology companies rose as traders rushed back into artificial-intelligence bets following a flight from the richly valued niche last week.

Shares of AI chip maker Nvidia rallied by more than 5%. The Roundhill Magnificent Seven exchange-traded fund, which tracks Nvidia and other U.S. tech giants, rose by almost 3%, having shed more than 5% during last week's selloff.

One strategist said valuation concerns may be overblown given the torrid rate of profit growth in the sector. Earnings growth in the latest quarter was "robust," and forecasts indicated most corporations expected growth to continue in a similar vein, said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

The semiconductor and semiconductor-equipment sub sector boasted a 49% increase in earnings in the third quarter, according to data from FactSet. That was the biggest contributor to overall growth in information-technology sector earnings of 27%.

Mixed economic and earnings data suggests the AI boom may be offsetting weakness in other sectors of the economy, Joyce said. "If you've got a single sector, which is a large part of the economy growing at 27 plus percent, that alone can hide a lot of problems," said Joyce.

CoreWeave, one of the top providers of cloud-computing services for AI firms, slipped in late trading, even after it posted a sharp increase in quarterly revenue.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 10, 2025 18:35 ET (23:35 GMT)