AI infrastructure-related stocks fell on worries that corporate spending on AI may not rise fast enough to support current investment levels. Dell shares sank 11 percent and Hewlett Packard Enterprise, Oracle and Super Micro also declined. Barclays cut ratings on Dell, HPE and NetApp, citing recent share surges and a later timeline for corporate AI adoption. Apple, long viewed as behind in AI, closed with a $5 trillion market value, the second company after Nvidia to do so.

In August, U.S. stocks that had been weighed down by Wall Street’s bearish narratives rebounded sharply, CNBC reported. Jim Cramer said worries over AI threats, slower growth and worsening conditions were overturned by earnings and shifts in positioning. Moderna surged after reporting promising results for an experimental melanoma vaccine with Merck. Enterprise software names rebounded as a high-leverage hedge fund unwound bets. Other gainers included Gartner, Newmont, Paramount Skydance, Super Micro Computer, Sandisk and Coinbase.