CNBC_ US indices performed mixed at the opening of Wednesday's trading session, as recent developments regarding SpaceX and Tesla pushed investors back towards the technology sector.
In terms of trading, the Dow Jones Industrial Average declined by about 0.1% to 52,442 points, while the S&P 500 index stabilized at 7,712 points.
Conversely, the Nasdaq index rose by about 0.4%, recording 26,520 points.
Shares of SpaceX, owned by Elon Musk, surged by 11% after the company announced a 161% growth in its revenues during the third quarter. Musk stated that SpaceX and Tesla have formed two special committees to discuss a merger between the two companies.
Additionally, Tesla shares rose by more than 2% ahead of its financial results announcement later today.
Shares of major chip manufacturing companies, such as AMD and NVIDIA, climbed by about 2% each, while Broadcom shares rose by approximately 1%. Furthermore, the VanEck Semiconductor ETF increased by more than 1%.
Investors are looking forward to further indicators regarding artificial intelligence activity this Wednesday, as Meta Platforms prepares to announce its financial results after market close.
Traders are also monitoring the results of IBM and Southwest Airlines, scheduled to be announced this Wednesday.
Concerns regarding the sustainability of the artificial intelligence investment boom have recently pressured market sentiment, as traders focus on debt-financed investments in artificial intelligence and the adequacy of infrastructure demand to justify the spending allocated by companies to this sector.
