Today, at the start of the session, the sentiment in the stock market was not the best. Investor attention has focused on the escalation of the conflict between Russia and Ukraine, after Russia announced looser rules regarding the use of nuclear weapons.
At the start of the market session, the indices recorded a decline of 0.30 to 0.60%. However, at present there is a slight rebound, and the US100 technology company index is already gaining 0.30%. The companies behind the gains mainly came from the semiconductor and new technology sectors, including Tesla.
US100 (D1 interval)
The US100 quotes have once again crossed the support zone around 20,400 points and are currently recording a gain of 0.30%. Notable gains are mainly focused on Tesla (+3.00%) and Nvidia (+2.10%). Alphabet, Amazon and Apple also recorded slight gains (all at +0.70%). Across the market, increases also dominate in AI and semiconductor technology stocks, including C3.ai (+21%), Super Micro Computer (+32%), Indie Semiconductors (+ 8.50%), and BigBear.ai (+8.20%).
Super Micro Computer (SMC.US)
Shares of Super Micro Computer are up 32% today after the company named BDO USA as its new auditor and submitted a plan to Nasdaq to regain compliance with listing requirements, following delayed financial reporting.
The former auditor, Ernst & Young LLP, resigned in October, citing concerns about transparency and corporate governance, which contributed to a more than 80% drop in Super Micro’s stock by compared to its peak in March. Hiring BDO USA, the sixth-largest accounting firm with only one other client outside the S&P 500, the company plans to submit its overdue 10-K annual reports and 10-Q quarterly reports by February, subject to the approval of the Nasdaq Stock Exchange. Despite the U.S. Department of Justice investigation, some analysts remain optimistic, pointing to Super Micro’s potential in the fast-growing AI data center market.
C3.ai (AI.US)
C3.ai is up 22% to $32.08 after announcing an expanded collaboration with Microsoft to accelerate the deployment of artificial intelligence for commercial customers on the Microsoft Azure platform. This agreement positions C3.ai as the preferred provider of AI applications software for Microsoft Azure, while Microsoft becomes the preferred cloud provider for C3.ai’s offerings. This strategic initiative includes the integration of C3.ai’s entire enterprise AI application software suite with Microsoft’s cloud business portal.
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