Daily Stock Spotlight

Good evening. Microsoft announced plans to spend $80 billion on AI-enabled data centers in fiscal 2025, boosting stocks as Wall Street recovers from a shaky start to the new year.

⬆24.45% Rivian Automotive (NASDAQ: RIVN)

The electric truck maker stock soared after reporting better than expected vehicle sales in Q4 and resolving key production bottlenecks, such as a shortage of computer chips & supplier issues.

⬆10.05% Arm Holdings (NASDAQ: ARM)

Microsoft's VP disclosed in a blog post this morning that the company plans to spend a whopping $80 billion on AI data centers in the current fiscal year, boosting semiconductor stocks. Shares of Nvidia and Taiwan Semiconductor Manufacturing also rose following this news.

⬇11.22% Carvana (NYSE: CVNA)

Carvana stock falls after short-seller Hindenburg Research criticizes the used-car retailer in an extensive report about fraudulent activities, including related-party transactions.

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Market data: today’s market close