Megacap tech drives stocks higher; bitcoin rebounds
Speculative stocks and bitcoin rebounded as traders’ risk appetite resumed.
Stocks reversed yesterday’s slump, with all major US indexes rising. Megacap tech propelled stocks higher, with shares of every Magnificent 7 member rising, except for Tesla. A rebound in bitcoin rippled across other speculative assets as the market’s mood shifted back to a risk-on sentiment. AI-linked stocks were generally higher, as a hot new AI chip entered the villa when Amazon launched the Trainium3 during its AWS re:Invent 2025 event in Las Vegas.
Stocks that moved higher:
Intel powered its way to a fresh 52-week high on a boatload of bullish options demand and little fundamental news.
Oklo, Bloom Energy, and Plug Power surged as smaller, more speculative AI-linked energy plays are back in full boom mode, driven by a speculative bid in the options market.
Newly public electric aircraft maker Beta Technologies climbed after announcing it would supply a rival in the space, Embraer-funded Eve Air Mobility, with electric motors.
Shares of Boeing soared after the plane maker’s CFO said the company’s recovery “is in full force” and it expects positive free cash flow next year.
Shares of Dell rose after a $6.25 billion donation to fund investment accounts for children by the founder’s family was recognized in glowing terms by the president.
Credo Technology Group surged after the cable solutions provider, which makes many products used in AI data centers, delivered Q2 results that blew past Wall Street’s expectations. POET Technologies also rallied after Credo’s quarterly results showed immense demand for connectivity solutions.
MongoDB soared after a huge revenue and earnings beat.
Stocks that moved lower:
Advanced Micro Devices dipped after Amazon publicly launched its custom chip. Nvidia managed to end in the green, but significantly pared its gains after the announcement.
Bitcoin miner turned data center company IREN tumbled after Monday night’s announcement of intentions to sell shares as part of a plan to refinance its debt.
Shares of Instacart fell after e-commerce giant Amazon outlined plans to test ultrafast delivery offerings in parts of Seattle and Philadelphia.
Ford ticked down as its EV sales tumbled more than 60% year over year on the end of the federal tax credit.
Signet Jewelers fell despite a Q3 earnings beat as holiday-quarter guidance disappointed investors.
