Tech Focus - February 24, 2026 (EOD)

 ## Tech Sector Wrap The technology sector rallied strongly today, with the XLK ETF gaining 1.30% amid broad optimism driven by AI-related developments and easing concerns over tariff impacts. The Nasdaq 100 outperformed the broader market, rising 1.10%, supported by gains in major tech and semiconductor stocks. Investor enthusiasm was fueled by significant AI chip deals and strategic partnerships announced by leading tech companies, which helped offset lingering worries about regulatory pressures and supply chain constraints. Notably, several software and cloud companies rebounded after recent sell-offs, as new AI partnerships and product launches suggested a path to renewed growth. Meanwhile, semiconductor stocks saw mixed but generally positive performance, reflecting the ongoing demand for AI infrastructure components. The market also digested mixed earnings reports and guidance from key tech players, with some disappointment in revenue outlooks tempered by strong AI-related contract wins. ## Magnificent 7 Performance **$NVDA** +4.42% - Nvidia shares surged on anticipation ahead of its earnings report and strong AI demand, despite reports that China has yet to receive its H200 chips. The company’s leadership in AI hardware continues to underpin investor confidence. **$AAPL** data not available **$MSFT** data not available **$GOOGL** -0.23% - Alphabet edged slightly lower despite news of a new AI-focused data center in Minnesota powered by renewable energy. The stock faced some profit-taking after recent gains. **$META** data not available **$AMZN** -11.00% (approximate) - Amazon’s stock dropped sharply following its announcement of increased AI-related capital expenditures, which spooked investors concerned about margin pressure and cash burn. **$TSLA** data not available ## Semiconductor Recap Chip stocks showed a mixed but generally positive trend today, led by Nvidia’s 4.42% gain on AI demand optimism. AMD also surged, with a notable 14% rally following a multiyear AI chip supply deal with Meta, reinforcing its position in the AI hardware market. Broadcom and Intel’s movements were not explicitly detailed, but the sector’s overall strength was supported by growing AI infrastructure investments and strategic partnerships. ## Software & Cloud Enterprise software stocks rebounded as AI partnerships and easing fears of disruption helped restore investor confidence. Salesforce’s stock showed signs of recovery after a recent selloff driven by AI concerns. Snowflake gained 2.09%, supported by strong cloud platform demand. Palantir’s shares fell sharply, reflecting ongoing valuation concerns despite its AI ambitions. CrowdStrike remained relatively flat, indicating cautious investor sentiment amid mixed AI impact narratives. ## Tech After-Hours Workday’s stock plunged 8.30% after hours following its earnings release, which revealed weaker-than-expected revenue guidance and highlighted the costs of competing in the AI space. HP also warned that US trade regulations and memory chip costs would weigh on its annual forecasts, pressuring its shares in after-hours trading. ## Tomorrow's Tech Watch Investors will closely monitor Nvidia’s earnings report, which is expected to be a critical test of the AI market’s growth trajectory amid competitive pressures. Meta and Microsoft are also scheduled to report, with particular attention on AI spending and partnership updates. Additionally, several semiconductor and software companies will release earnings, including Broadcom and Snowflake, providing further insight into AI-driven demand and margin trends. Market participants will also watch for any updates on tariff policies and regulatory developments that could impact supply chains and capital expenditures in the tech sector.