Nasdaq, S&P 500 gain, Dow ~flat
Tech leads S&P 500 sector gainers; Healthcare weakest group
Euro STOXX 600 index up ~0.6%
Dollar rallies; bitcoin up; crude up ~1%; gold ~flat
U.S. 10-Year Treasury yield dips to ~4.39
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TRUMP’S AI ACTION PLAN: WHO GETS TO BENEFIT?
Barclays said Microsoft MSFT.O, Oracle ORCL.N, ServiceNow NOW.N, Snowflake SNOW.N, and CoreWeave CRWV.O are best positioned to benefit from President Trump’s “AI Action Plan,” that was unveiled last week.
On July 23, U.S. President Donald Trump signed an executive order related to AI to "make America the world capital in artificial intelligence," that reflects a pro-AI policy shift.
Brokerage believes plan’s executive orders aimed at boosting AI exports, fast-tracking data center approvals, and setting federal standards—will accelerate cloud infrastructure rollout and drive faster development of AI products.
Technology companies including Microsoft and Oracle have been investing billions of dollars to build AI infrastructure as they look to gain market share in the AI space.
"We see positive readthroughs for cloud-native vendors from the plan compared to on-prem counterparts, as cloud vendors can benefit from capacity coming online quicker compared to self-hosted alternatives," said Barclays analysts led by Raimo Lenschow.
Barclays believes the plan could accelerate AI growth by cutting regulatory red tape, aligning state-level rules, and boosting workforce readiness, addressing key friction points that have slowed AI deployment.
However, the brokerage noted that there was not enough clarity on pricing implications in Trump's AI plan.
(Akriti Shah)
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