![\"Wall](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/3c3edd15ad2e0cc42a5e676772d88ee6a4d363f8.jpeg\")
<\/p>\nThe chip giant\u2019s eye-popping results soothed fears that the world\u2019s massive spending on AI products and services has got ahead of the demand for the technology, prompting investors to wade back into the tech sector.<\/p>\n
Australia\u2019s biggest tech stock, WiseTech Global, gained 2.1 per cent, and fellow software makers Xero and Technology One rose 1.6 per cent and 4.4 per cent, respectively. Family member tracking app Life360 climbed 4.2 per cent, and AI data centre operator NextDC finished 2.2 per cent higher after jumping 8 per cent in the first half hour of trade. Afterpay owner Block surged 10.9 per cent.<\/p>\n
\u201cMarket psychology has been negative this month as investors worried that the artificial intelligence infrastructure build-out was a bubble, and in a few years we may look back at this time and point to signs that it was,\u201d said Chris Zaccarelli, chief investment officer at Northlight Asset Management.<\/p>\n
\u201cBut in the meantime, the largest technology companies in the world are extremely profitable, and they are reinvesting billions of dollars into data centres, servers, and chips and the spending is real.\u201d<\/p>\n
On the property front, data centre owner Goodman Group climbed 1.9 per cent, while Charter Hall jumped 6.7 per cent after it raised its earnings forecasts, citing heightened investment activity.<\/p>\n
In mining, Lynas Rare Earths \u2013 which digs out the minerals essential for AI hardware and components in data centres, processors, and robots \u2013 rose 1.8 per cent, having soared as much as 7.8 per cent earlier. Uranium miners \u2013 viewed as key for powering AI\u2019s data centres \u2013 also advanced, with Deep Yellow gaining 6.6 per cent and Paladin Energy up 2.1 per cent.<\/p>\n
Iron ore giants BHP, Fortescue and Rio Tinto posted solid gains in the afternoon, finishing up 1.9 per cent, 4.2 per cent and 2.2 per cent, respectively, on the China stimulus news. A slew of options from mortgage subsidies to tax rebates and lower transaction costs are being considered by Beijing\u2019s policymakers, Bloomberg reported, citing sources familiar with the matter. Aluminium climbed as much as 0.9 per cent, while iron ore futures in Singapore clawed back earlier losses.<\/p>\n
Gold miners also rallied again, with Northern Star up 3.8 per cent, Evolution Mining rising 3.3 per cent and Newmont adding 1.2 per cent.<\/p>\n
Bolstering the market\u2019s broad-based gains, the big four banks all finished higher as bargain hunters came back, with CBA \u2013 the nation\u2019s biggest stock \u2013 and Westpac both up 1.1 per cent. National Australia Bank advanced 1.4 per cent and ANZ Bank added 0.9 per cent. Investment bank Macquarie Group rose 2.4 per cent.<\/p>\n
<\/p>\n
Wall Street was eagerly awaiting Nvidia\u2019s results.Credit: AP<\/p>\n