From NASDAQ.: 2024-05-14 15:54:41

Tech stocks surged on Tuesday afternoon, with the XLK and XSD ETFs up by 0.9% and 1.7% respectively. The Philadelphia Semiconductor index also rose by 1.5%. Alphabet’s Google announced a new search engine version with AI responses, leading to a 0.9% increase in Alphabet shares.

Taiwan Semiconductor Manufacturing plans to build its first European plant in Dresden, Germany in Q4, causing its shares to spike by 3.4%. Oracle is in talks for a $10 billion cloud server rental deal with Elon Musk’s xAI, resulting in a 3.8% increase in Oracle shares. Alibaba shares dropped 6.4% after reporting weaker-than-expected earnings in Q4.



Read more at NASDAQ.: Technology Sector Update for 05/14/2024: GOOG, TSM, BABA, ORCL