Shares of technology companies rose amid mixed artificial-intelligence earnings.
Cerebras fell after a surge in revenue for the maker of AI-supporting chips failed to meet investors' increasingly lofty expectations.
Cisco shares tumbled despite Chief Executive Chuck Robbins' claim that the AI boom had generated the hottest market for the company's network equipment in 30 years. Some analysts cited a conservative tone to Cisco's outlook. "It's not only you have to have good earnings, you have to lay out good forward earnings, too," said JJ Kinahan, senior vice president at CBOE Global Markets. "You can beat [estimates], but that's not enough."
SanDisk shares rallied after the maker of memory chips forecast revenue growth in the mid-to-high-teen percentages annually between fiscal 2028 and 2030.
Flock Safety said it would add safeguards to its surveillance products to address potential abuse by law enforcement, after months of backlash and vandalism of its AI-enabled camera system.
