Asian shares and US futures rise on AI earnings boost
Asian shares and US futures rose Wednesday as strong earnings from AI-related companies revived optimism in the tech sector. The MSCI Asia Pacific Index climbed 0.6%, with South Korea's Kospi gaining 1.9% and Nasdaq 100 futures up 0.7%. SpaceX reported quarterly net income of $4.4 billion, more than double estimates, sending shares up 7% in extended trading. Super Micro Computer surged 15% after topping expectations, while Netflix fell on a disappointing forecast. Australia's Nextdc plunged 44% after cutting its outlook. Attention turns to Meta Platforms and Tesla earnings due Wednesday, with analysts watching for signs that growth justifies heavy AI infrastructure spending. Some investors remain cautious, with billionaire Ken Griffin calling the sector "almost certainly" an AI bubble.