Good morning, you're listening to Markets Desk.
Qualcomm is having a standout session after revealing Meta as its first major Big Tech customer for data center chips, sending shares up as much as fifteen percent. The company also raised its revenue outlook, signaling that its push beyond smartphones into the artificial intelligence infrastructure buildout is gaining serious traction with enterprise buyers.
Shifting to the AI chip space more broadly, Cerebras is telling a very different story. The once-celebrated AI chipmaker has now fallen more than fifty percent from its all-time intraday high reached just six weeks ago, with shares sliding below their IPO price. That's a painful reversal for early investors and a reminder that sentiment in the AI hardware trade can turn quickly.
Meanwhile, across the Pacific, Japanese equities are snapping a two-session losing streak, with the Nikkei two twenty-five climbing well above the seventy-one thousand fifty level. Index heavyweights are leading the recovery, helped along by mixed but stabilizing cues out of Wall Street overnight. The contrast with Taiwan is notable — the Taiwan Stock Exchange is sitting just under forty-six thousand fifty points after shedding nearly seventeen hundred points over two consecutive sessions, and further pressure could come at the open.
That's the tape. Markets Desk, signing off the floor.
