Nvidia shares reach an all-time high due to high expectations for its quarterly results, driven by its dominance in the booming artificial intelligence market.
U.S. stocks rose sharply as investors anticipated strong quarterly results from Nvidia and looked ahead to the Jackson Hole conference, with tech stocks expected to rally further.
Semiconductor stocks in Asia, including Taiwan Semiconductor Manufacturing Corp and Samsung Electronics, surged following Nvidia's strong quarterly results and optimistic guidance, driven by the demand for AI chips used in data centers and artificial intelligence applications.
U.S. stocks surged on Wednesday, with the Nasdaq leading the way, fueled by optimism over Nvidia Corp.'s earnings and the S&P 500 ending its 36-day streak without a 1% gain.
Shares of Nvidia surged 6.7% to an all-time high after announcing a $25 billion stock buyback plan and reporting record quarterly revenue, driven by strong demand for its AI-focused chips.
Tech shares boosted U.S. stock indexes despite higher yields on Treasurys, with investors scaling back on bets for interest-rate cuts due to the strong U.S. economy.
Nvidia's shares reached a record high on Tuesday after the chipmaker's partnership with Google boosted investor confidence, while the US Court of Appeals ruling in favor of Grayscale's bitcoin ETF application provided a boost to the cryptocurrency market.
Salesforce shares surged 6% in after-hours trading as the company exceeded Wall Street's expectations with strong quarterly results and increased guidance, driven by growth in all product categories and a focus on artificial intelligence.
Dell Technologies raises its full-year revenue and profit forecast, benefiting from the AI boom and stabilizing demand for computer hardware and server products.
Dell Technologies reported better-than-expected sales of personal computers and data center hardware, and expressed optimism about the demand for AI products, indicating a potential recovery in the market for corporate technology.
Dell Technologies reported better-than-expected earnings for its fiscal second quarter and gave a positive outlook for the current period, leading to a surge in its stock.
Dell Technologies' stock rises after positive earnings update, with analysts highlighting three drivers for optimism.
Shares in Dell and Samsung have risen as investors speculate on their future AI prospects, with Dell attributing its revenue growth to rising demand for AI-optimized servers and workstations, and Samsung's price increase fueled by expectations of supplying advanced memory chips for AI processing.
Tesla's stock is rising after an optimistic report from Morgan Stanley about Tesla's Dojo supercomputer, which could add about $500 billion in value to the company and potentially become a direct revenue generator.
Tesla stock surged 10% after a Morgan Stanley analyst upgrade highlighted the potential of the company's artificial intelligence capabilities and software and services revenue.
Tech stocks rallied, with Tesla surging more than 10% after an upgrade by Morgan Stanley, and Qualcomm jumping almost 4% on news of a continued supply agreement with Apple, leading to a 1.14% increase in the Nasdaq Composite.
Stocks surged as the Dow Jones Industrial Average rose, driven by strong performances from Goldman Sachs, Caterpillar, and Arm, while the tech-heavy Nasdaq and the S&P 500 also saw gains; strong consumer data and positive economic indicators contributed to the market's optimism.
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