Shares of technology companies rose as traders bet the artificial-intelligence boom will gather steam.
Oracle shares hit all-time highs after a rosy growth projection from the business software giant.
Chief Executive Safra Catz projected "dramatically higher" revenue growth rates in the fiscal year ahead, driven by AI-related demand for cloud-infrastructure products.
Memory-chip maker Micron Technology plans to invest more than $200 billion in semiconductor manufacturing in the U.S., a move it estimates will create roughly 90,000 direct and indirect jobs.
Advanced Micro Devices announced several new AI-focused products including its MI350 Series accelerators.
The Nasdaq 100 index of large tech stocks closed within 3% of all-time highs, fighting back from deep in bear-market territory earlier in the year.
GameStop shares slid after the electronics-retail chain's earnings lagged some investors' expectations, and as it hinted at more purchases of bitcoin.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-12-25 1711ET
