Tech stocks rise in September on Fed rate cuts, AI optimism By Reuters

(Reuters) – The market capitalization of many technology firms rose in September, buoyed by an interest rate cut at the Federal Reserve that typically boosts future earnings and cash flows for high-growth companies and further fueled by continued enthusiasm for artificial intelligence.

Tesla’s (NASDAQ: the advanced driver assistance Full Self-Driving (FSD) in China and Europe.

Oracle Corp (NYSE: ) market capitalization rose 21.3% to $472.2 billion at the end of last month, with shares hitting record highs, fueled by optimism over the company’s projection of surpassing $100 billion in revenue. dollars by fiscal year 2029, driven by AI-driven demand. for cloud services.

Meta Platforms Inc (NASDAQ: , called Orion, and introducing new AI Capabilities for its services.

Amazon.com Inc’s (NASDAQ: ) market cap rose 4.4% to $1.95 trillion at the end of last month and Microsoft Corp (NASDAQ: )’s market cap rose 3.2% to $3.2 trillion.

On the other hand, the market value of Eli Lilly (NYSE: ) and Co fell 7.7% to $842 billion, while the market value of Saudi Arabian Oil Co fell 3% , up to $1.75 trillion at the end of last month.