S&P 500 nears record close as AI infrastructure stocks jump after earnings, tame CPI

U.S. stocks closed mostly higher on Wednesday as strong results from AI-related companies and a relatively tame consumer inflation reading lifted sentiment. The S&P 500 rose 0.3% to near its record close, the Nasdaq gained 0.7%, and the Dow was nearly unchanged. CoreWeave jumped 19.3% after posting stronger-than-expected sales, while Super Micro Computer surged 19% after forecasting revenue above expectations. Chipmakers also advanced after strong results from Tencent and fresh stakes by Temasek in SK Hynix and Samsung reinforced optimism around AI infrastructure demand. Nvidia rose 3%, Oracle gained 5.4%, and Micron added 4.9%. New inflation data showed relatively stable core inflation, easing pressure on the FOMC to raise interest rates, although concerns over the return of energy supplies from the Middle East kept some inflation risks in focus. Hyperscalers gave back earlier gains, with Microsoft down 2.3%, Meta falling 3.4%, and Amazon losing 1.8%.

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