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SoftBank jumps 10% as Asia tech stocks track Wall Street AI rally

Asian technology stocks rallied on Wednesday after Wall Street's record-setting session fueled optimism around artificial intelligence and growth stocks.

  • SoftBank shares jump over 10% as Asia tech stocks rally
  • Tokyo Electron rises 3.64%, Advantest gains 7%
  • Samsung Electronics surges more than 4% amid AI optimism

Reports of blasts in Dubai

Reports of blasts in Dubai Multiple explosions were reported in the industrial area of Jebel Ali in Dubai, UAE. Footage shared online shows plumes of smoke rising over the area.

SpaceX's AI spending unnerves Wall Street despite promises of quick payoff

In addressing Wall Street for the first time since SpaceX's IPO, executives tried to make the case that hefty AI investments are paying off within a year.

  • SpaceX's AI spending increased sixfold to $18.4 billion in Q2.
  • Company's AI spending exceeds analysts' average estimate of $13.22 billion.
  • SpaceX's stock dropped 7.5% after-hours, below initial IPO value.

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