Nasdaq gains widened to 2.0%; S&P 500 rose 1.1%. Philadelphia Semiconductor Index climbed 6.8%; AMD (AMD.O) up 13%, SanDisk (SNDK.O) up 12%.

OpenAI CFO Sara Friar told CNBC the company will not alter AI infrastructure investment plans after the US midterms, will continue partnering with major hyperscale cloud providers, and expects to use financing to meet customer demand. She said election outcomes would not materially change OpenAI’s business but that increased scrutiny of data centers has prompted greater local community outreach. Local ballots in 10 states covered 41 data‑center measures; only one backed limits — voter concerns centered on higher power bills, environmental impact and jobs. Friar said OpenAI filed a confidential IPO submission with the SEC in June, is considering a 2027 listing and is negotiating a new funding round at a $1.25 tln pre‑money valuation, adding AI demand is real and persistent.

Fed's MUSALEM said current excess inflation is driven by an energy shock and AI-related buildout.