Artificial intelligence-related stock names were mostly trending higher by noon trading on Monday, following Sunday night’s Super Bowl that was punctuated with tech sector ads.
The technology sector dominated this year’s game, with about 16 companies purchasing commercial time, including OpenAI (OPENAI), Google (GOOG) (GOOGL), Amazon (AMZN), Meta (META), Salesforce (CRM), Anthropic (ANTHRO), and Wix.com (WIX).
Salesforce, which was added to Wedbush’s IVES AI 30 list (IVES) on Monday, was up 1%. ServiceNow (NOW), which was also added to the list, had increased by 2%. In fact, most of the names on this list were in the green during Monday trading. Enterprise AI firm Palantir (PLTR) had gained 6%.
Taiwan Semiconductor Manufacturing (TSM) had ticked up 2%, AMD (AMD) and Nvidia (NVDA) had both increased 3%, and Broadcom (AVGO) was up 2.8%.
Hyperscalers were also trending higher. Microsoft (MSFT), which is a primary backer of OpenAI, had increased 2.6%, Nebius (NBIS) and IREN (IREN) had both jumped 7%, and Oracle (ORCL) surged 9%. Alibaba (BABA) had increased 1.3%. Google had edged up 0.5%, and CoreWeave (CRWV) had climbed 5.6%.
Corning (GLW), which provides optical fibers, cables, and connectivity solutions for telecommunications networks, data centers, and AI-driven technologies, had jumped 7%. Competitor Amphenol (APH) had gained 4.7%. Lumentum (LITE) was up 3%.
Cybersecurity firms with a heavy focus on AI-driven products were also higher. CrowdStrike (CRWD) and Fortinet (FTNT) were up about 1.5%, while Palo Alto Networks (PANW) and Zscaler (ZS) had increased 0.8%. However, SentinelOne (S) was down 1.3%.
Wall Street’s major indices were up as well ahead of a pivotal week of economic releases, highlighted by the January employment report and closely watched inflation data. The tech-focused Nasdaq Composite (COMP:IND) had gained 1%, the S&P 500 (SP500) was up 0.5%, while the Dow (DOW) was relatively static.
The iShares Expanded Tech-Software Sector ETF (IGV) had increased by 2.7% after falling nearly 20% over the past month alone as AI-related disruption fears have hampered the sector. The Philadelphia Semiconductor Index (SOX) was up 1.5%.