Wall Street surged to fresh record highs as investors piled into AI-linked semiconductor stocks amid booming demand for advanced memory chips and data centre infrastructure.
The rally was led by Micron Technology, whose shares jumped 19.3%, pushing the chipmaker’s market valuation above US$1 trillion for the first time.
Strong appetite for artificial intelligence infrastructure stocks helped offset lingering concerns surrounding fragile US-Iran peace negotiations, which faced renewed strain following American air strikes on Iran late Monday.
Despite the geopolitical uncertainty, investors continued rotating into technology shares, driving the S&P 500 up 0.6% and the Nasdaq Composite 1.8% higher, with both indexes closing at record levels.
The Dow Jones Industrial Average edged 0.2% lower by the close.
Oil markets remained volatile but relatively stable during Asian trading hours. Brent crude finished nearly 4% higher above US$99 a barrel, while US benchmark West Texas Intermediate traded above US$93 a barrel.
Asian equity futures pointed to a firmer open on Wednesday, suggesting investors remain optimistic that diplomatic efforts between Washington and Tehran could still produce a broader agreement despite the latest military escalation.
Futures linked to Japan’s Nikkei 225 and China’s CSI 300 were each around 0.5% higher in early trading, while contracts tied to Hong Kong and Australian markets were broadly flat.
