Fed rate cuts typically boost future profits and cash flow of high-growth companies. Many technology companies' market caps soared in September, driven by sustained enthusiasm for ai, further fueling market cap growth.

Tesla's market cap soared 22.2% last month, reaching $834.4 billion by the end of September. This was mainly driven by record-breaking electric vehicle sales in china in August, and Tesla's plans to launch its Full Self-Driving (FSD) advanced driver assistance software in china and europe.

Oracle's market cap surged 21.3% at the end of last month, reaching $472.2 billion. The company expects its revenue to exceed $100 billion by fiscal year 2029, driven by demand for cloud computing services powered by ai, with optimism driving the company's stock to record highs.

Meta Platforms Inc's market cap surged by about 10% to $1.45 trillion, also hitting a historic high stock price. The increase was due to the company launching its first prototype of augmented reality glasses called Orion, and introducing new ai features for its services.

As of the end of last month, Amazon's market cap grew by 4.4% to $1.95 trillion; Microsoft's market cap grew by 3.2% to $3.2 trillion.

On the other hand, Eli Lilly and Co's market cap fell by 7.7% to $842 billion; Saudi Aramco's market cap declined by 3% to $1.75 trillion.