Tech Up as AI Boom Appears to Gain Steam - Tech Roundup

Shares of technology companies rallied as the artificial-intelligence boom appeared to accelerate.

Advanced Micro Devices shares surged after the chip maker posted better-than-expected earnings due to artificial-intelligence demand.

Samsung shares soared, becoming the first South Korean company to top $1 trillion in market capitalization, as AI demand fattened profit margins on its memory chips.

"The question is not whether or not this can go on meaning AI related spend but who's doing it right and who's not, because the ones that get it right are going to do well but the ones that get it wrong potentially going to go out of business," said Oliver Pursche, senior vice president at financial advisory Wealthspire.

In another sign of the voracious appetite for AI, Anthropic will use all of the computing capacity at SpaceX's Colossus 1 data center in a new agreement with Elon Musk's rockets and AI company.

Shares of Hut 8 soared after the AI infrastructure developer struck a deal to build a new data center in South Texas.

Ride-hailing firm Uber Technologies reported higher revenue and gross bookings in the first quarter, as trip volumes and active users continued to grow.

DoorDash shares rose in late trading after the delivery app posted robust quarterly revenue growth.

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

(END) Dow Jones Newswires

May 06, 2026 17:41 ET (21:41 GMT)