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2026.08.1220:10:14UTC+00US Stocks Rise on AI Gains and Tame CPI

US equities finished mostly higher on Wednesday, supported by strong earnings from AI-focused firms and a relatively benign CPI report. The S&P 500 added 0.3%, closing just below its record high, while the Nasdaq advanced 0.7% and the Dow ended little changed. CoreWeave jumped 19.3% after reporting sales that beat expectations, and Super Micro Computer (SMCI) surged 19% on an upbeat revenue outlook. Semiconductor names also rallied following solid results from Tencent, with Temasek disclosing new positions in SK Hynix and Samsung. The news renewed optimism around AI infrastructure names, which have had a volatile start to the third quarter. Nvidia rose 3%, Oracle gained 5.4%, and Micron climbed 4.9%.

On the macro front, the latest inflation data showed core inflation remaining relatively stable, reducing pressure on the FOMC to resume rate hikes. However, uncertainty over the restoration of energy supplies from the Middle East kept inflation risks in focus. Large-cap tech “hyperscalers” gave back early gains, with Microsoft closing down 2.3%, Meta off 3.4%, and Amazon losing 1.8%.

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