AI stocks climb after trillions wiped from market values

AI and technology shares rebounded in early US trading on Friday after a sell-off wiped trillions of dollars from market values and spread from the US to Asian and European markets. The recovery reversed some of Thursday’s losses, as investors weighed the election result, concerns about tighter AI regulation and whether heavy spending on AI will deliver returns.

The Nasdaq Composite opened 1.23% higher after falling 5.5% the previous day; the S&P 500 edged up while the Dow opened slightly lower. Nvidia, down more than 9% on Thursday, rose over 6% at the start of Friday’s trading, while SpaceX gained more than 7% and Tesla nearly 3%. US employers added 165,000 jobs in October, more than analysts expected, and unemployment eased to 4.1% from 4.2%; professional and business services added 70,000 jobs and healthcare 42,000.