TREE NEWS reports: US stocks opened higher, with the Nasdaq up 0.8% and the S&P 500 up 0.8%, as Oracle climbed about 7% after reporting first-quarter revenue of $19.3 billion, up 30% year-on-year, with cloud infrastructure revenue surging 121%. Memory chip stocks gained broadly, including SK Hynix up 2% and Western Digital up 2%, while optical communication names rose, led by Coherent up 5% and Lumentum up 4%. The moves followed data showing US August core CPI rose more than expected month-on-month, reinforcing the case for tightening.
Oracle Jumps 7% as Nasdaq Gains 0.8% on Strong Cloud Revenue
AI take
The striking detail is the divergence: a hot core CPI print would normally pressure rate-sensitive growth names, yet the AI-infrastructure complex rallied anyway. Oracle's cloud surge and the broad strength in memory and optical names suggest the market is treating AI capex as a cycle with its own momentum, distinct from the macro rate path. Whether that decoupling holds if tightening expectations firm further is the open question.
Generated by AI for reference only.
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