Nvidia Soars to Record High on Earnings Beat and AI Optimism, Fuels Broad Tech Rally
• US stocks soared to record highs driven by Nvidia beating earnings expectations and AI optimism
• Nvidia stock popped 16.4% and gained $277B in value in a single day, the largest ever increase
• Nvidia profits up 580% year-over-year, fueled by surging demand for AI and chips
• Rally spread to other chipmakers like AMD and tech stocks like Meta and Amazon
• Fed minutes showed continued inflation worries that could keep interest rates higher for longer