US stocks finish higher as Nvidia results lift tech
S&P 500 rose 0.7%, Nasdaq gained 1.4% and Dow added 105 points after Nvidia jumped 8.7% on strong AI-demand outlook.
US equity indices closed higher on Thursday as strong results from Nvidia supported the technology sector.
The S&P 500 rose 0.7%, the Nasdaq advanced 1.4% and the Dow added 105 points.
Nvidia surged 8.7% after strong demand for AI computing drove the world’s largest company to forecast a 70% increase in revenue next fiscal year, challenging persistent skepticism that capital spending on AI infrastructure would slow.
The outlook supported other companies exposed to AI infrastructure, with Broadcom up 4.5% and Intel adding 4.4%.
AI also boosted hyperscalers, with Microsoft up 1.7% and Oracle adding 2.1%.
Software infrastructure stocks rallied, with Palantir up 4.7%, Salesforce soaring 22.6%, CrowdStrike surging 20.5% and Palo Alto jumping 12.8%.
Broader sectors were lower amid an unfavorable macroeconomic backdrop.
Long-term yields remained elevated amid widening federal deficits, soaring AI-related debt issuance, foreign trade tensions, and the risk of higher energy-driven inflation.