Home / Business and Economy / AI Boom Fuels Semiconductor Stock Surge
AI Boom Fuels Semiconductor Stock Surge
13 Feb
Summary
- Equinix shares climbed on strong 2026 revenue guidance driven by AI demand.
- Coinbase reported lower revenue and a loss due to market conditions.
- Applied Materials saw a surge on upbeat sales forecasts for AI chips.
Equinix experienced a significant premarket rally of approximately 8% on Thursday. This surge followed the data center operator's release of 2026 revenue guidance that surpassed average analyst expectations. Analysts pointed to increased bookings and a forecast boost from escalating AI demand as key drivers.
In contrast, Coinbase's revenue fell short of market expectations, leading to a reported loss of $2.49 per share. The crypto exchange operator noted that market conditions weakened its quarterly results compared to the prior quarter, with revenue declining by almost 22% to $1.78 billion.
Applied Materials saw a substantial late-day surge of 10%. This positive movement was attributed to a surprisingly upbeat sales forecast, indicating that strong demand for artificial intelligence and memory semiconductors is driving equipment purchases. The company anticipates approximately $7.65 billion in revenue for the fiscal second quarter.
