Amazon shares led the momentum, buoyed by falling oil prices that promise to bolster consumer spending during the upcoming holiday season. Advanced Micro Devices managed a 1% gain, reflecting sustained demand for its artificial intelligence hardware, even as the market weighs competitive pressures. Conversely, the sector faced notable setbacks: Datadog shares plummeted after the firm disclosed that its largest client—an unidentified AI company—curtailed platform usage, directly impacting revenue projections.
Infrastructure providers faced a steeper climb. CoreWeave stock dropped nearly 10%, extending its year-to-date decline to roughly 40%. Hut8 also retreated following a significant quarterly operating loss reported by the Miami-based data center developer. Meanwhile, corporate leadership shifts and operational headwinds marked other segments; HP appointed former GSK chief executive Emma Walmsley to lead the firm starting in January, while Uber reported a deceleration in revenue growth as demand for core ride-hailing services softens.
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