Wall Street: US indices rise despite AI doubts – oil price climbs to over $110

Doubts about the financing of the AI ​​boom spared tech stocks on Tuesday. At the same time, the rise in oil prices is fueling interest rate concerns. Investors are waiting for the balance sheets of large US technology companies.

Dusseldorf. Despite ongoing concerns about further developments in the technology sector, investors on Wall Street are hesitant to buy tech stocks. After a negative start, the US indices are turning positive.

The Dow Jones of standard values ​​rose by one percent to 52,486 points.

The broad S&P 500 is trading 0.4 percent higher at 7,723 points.

The Nasdaq technology exchange rose by 0.3 percent to 26,505 points.

The Nasdaq 100, which tracks the 100 non-financial companies with the highest market capitalization, is trading almost unchanged at 29,589 points.

“Concerns about the high valuations and financing of the AI ​​boom continue to grow,” said Andreas Lipkow, chief analyst at broker CMC Markets.

AI concerns weigh on global stock markets

Companies in the semiconductor and data center sectors came under selling pressure on the Asian stock exchanges on Tuesday.

In Seoul, shares of data center provider Elice fell 32 percent after its stock market debut. “Investors are increasingly questioning whether the huge investments made by large technology companies can actually pay off in the foreseeable future,” said Lipkow.

Nevertheless, the shares of the US cloud provider Coreweave rose by almost 2.6 percent. Investors are waiting for results from large AI investors like Meta to get information about the further development of the billion-dollar investments.

Concerns about financing AI infrastructure are also evident in the bond market. Softbank Group's credit risk rose to its highest level in almost four years. According to Cavendish's Roger Lee, the market needs evidence that the huge investments in data centers and infrastructure are paying off. Cloud infrastructure providers that are particularly heavily indebted could come under further pressure.