21.10.202613:40:01UTC+00US Stocks Rise as Strong AI Earnings Lift Tech Shares

US stocks traded mostly higher on Wednesday, buoyed by strong results from SpaceX and Super Micro Computer that rekindled optimism about AI-related demand. The S&P 500 advanced 0.3%, the Nasdaq 100 gained 0.6%, and the Dow Jones Industrial Average added 180 points.

SpaceX jumped 9% after Elon Musk said a merger with Tesla would be “a good idea,” and the space technology company reported its first profit as a publicly traded firm. Tesla rose 2.5%, while other space-related names, including Rocket Lab, Planet Labs, and Intuitive Machines, gained between 3.9% and 6.5%.

Super Micro Computer surged 14% after issuing a stronger-than-expected quarterly outlook, lifting shares of Hewlett Packard Enterprise and Dell by 4.5% and 7.7%, respectively. Most semiconductor stocks also moved higher, with Nvidia, Intel, and AMD among the notable gainers.

In contrast, Netflix fell more than 4% after providing a weaker-than-expected profit forecast for the fourth quarter, just days after announcing workforce reductions. AT&T declined 3.5% despite beating earnings estimates, and Elevance Health slipped 1.2% even as it raised its 2026 profit outlook.