Live Updates: Nasdaq Composite Jumps in PM Trading with AI Stocks Gaining (ASML, AMAT, LCRX)

As of 3 p.m. ET, most stocks are still in there green on Wednesday. The Dow Jones Industrial Average is up .83% while the Nasdaq is up .44%.

Some of the most notable performers today include:

• Norwegian Cruise Lines (NYSE: NCLH): Up 10.3%
• Carnival Corporation (NYSE: CCL): Up 7.5%
• Corning Incorporated (NYSE: GLW): Up 4.66%
• Palantir (NYSE: PLTR): Up 4.45%

Cruise lines are once again up across the board after a major sector upgrade yesterday. Both Corning and Palantir are benefitting from rising expectations for data center and AI demand in 2025.

As of 1 p.m. ET, stocks are having a solid day across the board.

• Dow Jones Industrial Average: Up .77%
• S&P 500: Up .46%
• Nasdaq: Up .35%

The Nasdaq-100 is slightly trailing other indexes after significant outperformance yesterday. Shares of Alphabet (Nasdaq: GOOGL) are weighing on the index as the megacap is down 2.25%. Top Nasdaq performers include:

• Atlassian (Nasdaq: TEAM): Up 5.39%
• Super Micro Computer (Nasdaq: SMCI): Up 5.05%
• Zscalar (Nasdaq: ZS): Up 4.43%

We noted in our morning update that strong revenue figures from Taiwan Semiconductor would be a positive for AI stocks, and companies that sell equipment to Taiwan Semi like Lam Research, KLA Corporation, Applied Materials, and ASML are all seeing strong returns today.

At a little past 10 a.m. ET, the Nasdaq has turned slightly green for the day, with a .01% gain. After strong gains yesterday, cruise companies like Norwegian Cruise Lines (NYSE: NCLH) and Carnival (NYSE: CCL) are among the market’s biggest gainers. The cruise lines are up 7.8% and 4.7%, respectively.

It has been a tough year for Astera Labs (Nasdaq: ALAB), the networking upstart that IPOd in March. After hitting highs of more than $95 per share, its stock recently slumped as low as $36. However, Astera Labs is set to see big gains today. The company is up 15% in premarket thanks to the announcement of a PCIe Gen 6 switch that investors are betting will help the company pick up share in the AI market.

Last quarter, Broadcom said their Ethernet networking grew at 4X, which was even higher than the growth rate the company saw in AI accelerators. AI networking is one of the fastest growing areas in the market today.

Data from the China Passenger Car Association show that Tesla‘s (Nasdaq: TSLA) sales were up 19.2% year-over-year in September. Shares in Tesla are little changed on the news as the market is more focused on the company’s major robotaxi event scheduled for tomorrow.