Key facts
- European shares rose on Thursday, led by technology stocks.
- Strong forecasts from U.S. chipmakers Micron and Qualcomm revived the AI rally.
- The STOXX 600 index gained 0.27%.
- European tech stocks saw a 1.7% increase.
- Micron and Qualcomm signaled robust demand for AI infrastructure.
European shares advanced on Thursday, with the pan-European STOXX 600 index rising 0.27% by 0711 GMT, as strong forecasts from U.S. chipmakers Micron and Qualcomm reignited the artificial intelligence rally. Nasdaq futures jumped 2% as investors reacted to signals of robust demand for AI infrastructure. European tech stocks saw a 1.7% increase, with notable gains in Infineon, STMicroelectronics, BE Semiconductor, and ASML. Micron's European-listed shares climbed 18.7% following its forecast of $22 billion in customer commitments for memory chips and Qualcomm's projection of $15 billion in data-centre revenue by 2029. Wall Street's main indexes also advanced, with the Dow Jones Industrial Average up 0.31%, the S&P 500 up 0.63%, and the Nasdaq Composite up 0.97%. Global stocks rose, led by chipmaker earnings, though Apple shares were down 5.3% amid choppy trading. Investor sentiment remains cautious due to stretched AI valuations and expectations of higher interest rates.