Snap Rockets on $400M AI Deal, Arm Guides Higher: AI Stocks to Watch Today

Today’s AI stock market saw Snap surge after announcing a $400 million partnership with Perplexity AI to integrate AI-search into Snapchat. This move was seen as a strategic catch-up against larger competitors in the market. Arm also had a strong quarter, with shares rising as they guided above expectations, citing increasing demand for AI and higher royalties from Compute Subsystems. However, Pony.ai and WeRide stumbled on their Hong Kong debuts, highlighting the challenges faced by autonomous driving companies amid IPO crowding. Alphabet made headlines with plans for new AI data centers on Christmas Island and a significant investment in Germany, showcasing the momentum in hyperscaler capex.

As the AI data center buildout continues to gain momentum, a new asset class is emerging in Wall Street’s investment landscape. Alphabet, a major player in the AI hyperscaler market, is pouring substantial resources into expanding its AI computing capacity.

Japanese AI-related companies experienced gains, with Advantest, Renesas Electronics, and Disco Corp all seeing positive movements in their stock prices. South Korea’s Kospi index also climbed, with SK Hynix closing higher. Meanwhile, Australia’s ASX/S&P 200 and Hong Kong’s Hang Seng Index both showed positive growth. However, Chinese autonomous vehicle firms WeRide and Pony.ai faced challenges in their market debuts, with both seeing significant drops in their stock prices.

Overall, the AI stock market continues to be dynamic and full of opportunities for investors looking to capitalize on the growing AI industry. Stay tuned for more updates on the latest developments in the world of AI stocks.