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Tech IPOs Drive Market Rally as Nasdaq Hits New Record High
Summary
The Nasdaq Composite surged past 16,000 points today, fueled by strong performances from recent tech IPOs including CloudNova and QuantumAI. CloudNova’s shares jumped 18% on debut,
The Nasdaq Composite surged past 16,000 points today, fueled by strong performances from recent tech IPOs including CloudNova and QuantumAI. CloudNova’s shares jumped 18% on debut, raising $1.2 billion, while QuantumAI gained 12%, according to Bloomberg. Analysts attribute the rally to renewed investor confidence in AI and cloud computing sectors amid robust earnings reports. The broader market also saw gains, with the S&P 500 up 1.3%. Experts warn of potential volatility but remain optimistic about tech-driven growth in 2026. IPO activity this quarter has already surpassed $15 billion, marking a record pace since 2020.
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