AI Cloud Stocks Rise on Risk-On Sentiment
Shares in CoreWeave, Snowflake, and Oracle rose significantly as risk-on sentiment lifted the broader tech sector following President Trump's decision to cancel planned Iran strikes. The rally extended across AI cloud infrastructure names, with CoreWeave climbing 11%, Snowflake gaining 6%, and Oracle up by 5%. Nebius also advanced but remained below its July levels. The WisdomTree Cloud Computing ETF (WCLD) rose 2% as the rebound appeared sector-wide. BTIG raised its price target for Snowflake to $340 ahead of Q2 earnings, citing strong demand and AI product traction. Despite today's gains, Oracle remains down nearly 30% year-to-date. The move reflects a broader rotation into high-growth tech stocks amid easing geopolitical tensions. While some names like CoreWeave had been under pressure in July, Monday’s rally suggests renewed investor confidence in the sector.
Tickers: $CRWV $NBIS $ORCL $SNOW $WCLD
Topics: AI cloud geopolitical easing risk-on sentiment stock rally