US quarterly results give AI a fresh boost; Prysmian and St rise
Buying of shares in the sector across Europe following strong performances on the Asian markets
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(Il Sole 24 Ore Radiocor) - Tech remains in the spotlight in Europe, following the strong performance of the sector’s shares in Asia in the wake of the quarterly results from the US companies Super Micro Computer and CoreWeave (both of which rallied in after-hours trading on Wall Street), which have reignited confidence in artificial intelligence.
The confidence sparked by the two companies’ results spread to Asia, where the Kospi in Seoul closed up 3.68 per cent, driven by Samsung (+6.7 per cent) and SK Hynix (+4.7 per cent), before reaching Europe. Consequently, in Milan Prysmian surged to the top of the index, bringing its year-to-date gain to over 52 per cent, whilst Stmicroelectronics is also performing well, whilst outside the main index, Technoprobe is also performing well. In Frankfurt, Infineon Technologies, whilst in Amsterdam buying is driving up ASML, ASM International and BE Semiconductor.
To take things in order, the market appears to have returned to betting on AI after the two tech groups released their financial results on the eve of, the market close. Super Micro Computer closed the fourth quarter ending 30 June with net revenue that had almost doubled to $11.1 billion and a net profit of $1,178 million, compared with $195 million in the fourth quarter of 2025. Adjusted net profit per share was $1.70, up from $0.41 in the same period of 2025. The company then provided guidance for 2027 that exceeded forecasts, with net revenue expected to be between $65bn and $72bn (analysts’ estimates stood at $52.5bn).
CoreWeave, a company specialising in AI cloud services, also posted positive results, closing the second quarter of 2026 with revenue more than doubling to $2.58 billion, compared with analysts’ expectations of $2.56 billion. The adjusted loss per share of $1.03 was lower than expected, with analysts having forecast a loss of $1.20. The company has also raised its investment forecasts and now expects them to stand at between $35bn and $39bn for the full year, up from a previous range of between $31bn and $35bn. CoreWeave has become a key indicator of the boom in AI data centres, as it is one of the few publicly listed providers of AI computing services. Its results are therefore, in a sense, an indicator of the general trend in demand for AI computing services.
