Tech shares rally on Meta's Muse hype as oil climbs and bond yields rise
Meta's new Muse AI assistant sparked an 11% jump in its stock, lifting other AI-related shares, while oil prices rose and bond yields nudged higher.
Meta Platforms saw its shares surge by over 11% after the two-week-old Muse AI assistant went viral, marking the firm’s strongest daily rise since April 2024 and reviving optimism for the tech sector. The rally lifted a range of AI-linked companies, with AMD reaching a market value of US$1 trillion and Intel and Arm Holdings climbing 12.2% and 17% respectively. In Europe, semiconductor stocks were among the few to post gains, while the broader STOXX 600 slipped 0.2% after a prior 1% advance.
Oil markets saw Brent crude futures rise more than 1%, and U.S. 10-year Treasury yields inched up, bolstering the dollar against major currencies. Analysts noted that strong demand for costly AI tools could sustain the sector’s recent recovery despite earlier sell-offs.
Why it matters
The surge shows renewed investor confidence in AI technologies, influencing tech stocks, oil markets and currency movements.
How this story developed
- Sep 8 Paramount seeks $1.88 billion bond from states and WGA over Warner Bros. deal delay
- Sep 17 The Justice Department filed a statement of interest seeking a $1.88 billion bond from the states.
- Sep 18 Asian equities rose on Friday while the yen slipped, as oil prices fell and investors eyed the Bank of Japan’s upcoming rate hike.
- Sep 21 A settlement with twelve states was reached, removing a key antitrust obstacle.
- Sep 21 Settlement adds film‑output quotas, a $300 million annual domestic production commitment, and an editorial independence board.
- Sep 22 Oil prices fell and AI data demand boosted semiconductor stocks, reversing earlier concerns about oil‑driven market pressure.
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