U.S. stocks opened higher, with storage names including SK Hynix, Micron, SanDisk, Western Digital and Seagate extending gains tied to AI infrastructure spending expectations.
U.S. stocks opened higher as the Dow Jones Industrial Average rose 0.27%, extending a technology-led risk-on tone that had been supported by a report that SpaceX plans to order about 13,000 Nvidia GB300 AI server racks from Foxconn in a deal that could reach $52 billion. The reported spending reinforced expectations for continued demand across the AI infrastructure supply chain, including memory and storage companies. At the open, storage shares were among the notable gainers. SK Hynix, Micron Technology and SanDisk each rose 4%, while Western Digital and Seagate Technology gained about 3%. Those moves followed earlier strength in AI-linked names spanning chipmakers, compute rental firms and optical communications suppliers, as investors continued to favor companies exposed to data-center buildouts and higher semiconductor demand.