Nasdaq climbs over 1% as SpaceX, Super Micro improve AI sentiment

The tech-heavy Nasdaq led gains on Wednesday after quarterly results from SpaceX and Super Micro Computer improved appetite for AI-linked stocks, while Netflix slipped as its forecast failed to impress investors. Elon Musk's rocket and space technology firm rose 9.8 percent after he said on Tuesday that a merger of SpaceX and Tesla would be "a good idea". SpaceX also posted its first profit as a public company. Tesla shares were up 3.5 percent. Super Micro jumped 10.3 percent to the top of the S&P 500 after the AI server maker forecast quarterly revenue and profit margin above Wall Street estimates, signaling that AI demand remained resilient. Peers HPE and Dell rose 2.2 percent and 4.5 percent, respectively. Investors drew comfort from the reports as concerns over the profitability of the AI buildout triggered a selloff in AI-linked stocks last week, with data center operator CoreWeave at the center of the storm. Its shares were marginally down, suggesting lingering caution in the sector. "The sentiment around tech has shifted ... There's a lot of stress in the credit markets right now t