Finance

Strong corporate earnings from primary hardware and cloud infrastructure providers triggered a notable resurgence in AI-related equities. Super Micro Computer and CoreWeave both witnessed their shares surge by roughly 19% following robust quarterly projections and capital expenditure increases. Lumentum Holdings also added to tech momentum, gaining 14% on the back of solid demand indicators for optical networking components.

West Texas Intermediate and Brent crude oil prices remained elevated around $83 and $88 per barrel, respectively, driven by an ongoing standoff between the United States and Iran in the Strait of Hormuz. The heightened geopolitical tension overshadowed recent revisions from the International Energy Agency and OPEC, which both projected a softening outlook for global oil demand expansion this year.

Following the closing bell, several prominent technology companies experienced downward pressure due to disappointing financial metrics. Shares of artificial intelligence chipmaker Cerebras Systems tumbled 14% after missing consensus revenue estimates, while network equipment giant Cisco Systems fell 3% after its adjusted gross margin failed to meaningfully impress Wall Street. Similarly, photonics specialist Coherent shed nearly 3% following its late-day financial disclosure.