Global Markets Rally as Tech Investors Bet on AI Growth

OPA WIRE, Oct 28 (OPA) — Global equities trended higher Wednesday, extending gains from a positive session on Wall Street. The Nasdaq Composite led U.S. indices on Tuesday with a 1.18 percent increase, while the S&P 500 rose 0.6 percent and the Dow Jones Industrial Average edged up 0.03 percent. Investor sentiment remains focused on the long-term profitability of massive capital expenditures in artificial intelligence, despite ongoing debates regarding potential market saturation.

In the Asia-Pacific region, the KOSPI in Seoul surged 5.84 percent, driven by SK Hynix. The memory chip manufacturer reported a 630 percent year-on-year increase in operating profit, reaching 83.33 trillion won ($62.8bn). Other regional benchmarks followed suit, with Tokyo’s Nikkei 225 rising 1.26 percent and Taipei’s TAIEX gaining 1.32 percent. Nvidia shares rose nearly 1 percent following the company's announcement of a $3bn investment in Meta’s equity offering.

Market participants are now shifting focus to upcoming quarterly earnings reports from major U.S. tech firms. Microsoft and Alphabet are scheduled to release results Wednesday, with Amazon and Apple to follow later in the week. Meanwhile, Anthropic filed for an initial public offering on Monday, reporting a net loss of $80.7bn on $16.3bn in revenue for the first half of 2026. Gartner forecasts global AI investment will reach $2.7 trillion this year, rising to $3.6 trillion in 2027.

Energy markets remain volatile amid geopolitical tensions. Brent crude futures rose 1 percent to approximately $115 per barrel as hostilities persist in the Middle East, including conflicts involving Saudi Arabia and Yemen’s Iran-aligned Houthis. Oil prices have climbed 59 percent since the onset of the U.S.-Israel war on Iran, adding a layer of macroeconomic uncertainty to the broader equity market rally.