AI stocks gain momentum

PARAGRAPH 1 --- AI stocks gained momentum, driven by innovation and optimism. Rubrik Inc. (RBRK) launched its AI platform, Rubrik AI, on June 9, transforming its platform with an agentic-first approach. Amazon.com Inc. (AMZN) is set to roll out its broadband service, Amazon Leo, with enough satellites in orbit. European stocks surged on Tuesday, led by tech stocks, amid renewed AI optimism. Meanwhile, AI startups like Moonshot AI and Alibaba Group Holding Limited (BABA) made headlines with AI advancements.

PARAGRAPH 2 --- The AI narrative impacted tech stocks across the board. Popular AI stocks like SpaceX, Nvidia, Alphabet, Microsoft, and Meta Platforms saw increased interest on Robinhood. SaaS stocks, such as Palantir Technologies Inc. (PLTR), Microsoft Corporation (MSFT), and ServiceNow Inc. (NOW), were also boosted by AI tailwinds. Alibaba's U.S.-listed shares rose 4% after confirming Qwen AI integration into Apple systems in China.

PARAGRAPH 3 --- Coming up, investors should watch for Microsoft's earnings report on July 26, which could provide insights into its AI strategies. The European Central Bank's interest rate decision on July 21 may influence tech stocks, given the ECB's stance on AI and the recent surge in European tech shares. Additionally, the market awaits further developments from AI startups and their potential impact on established tech giants.