Nvidia, Salesforce Lift Indexes
Strong tech earnings helped shape Thursday’s moves in major U.S. stock indexes.
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The reporting
Nvidia shares rose nearly 9% Thursday, adding about $440 billion in market value, after the chipmaker reported fiscal second-quarter results and revenue guidance above Wall Street expectations. The stock topped $227 during the move, compared with less than $190 at the start of the year. The results eased investor concerns that artificial-intelligence spending was slowing, while analysts pointed to the possibility of Nvidia reaching $1 trillion in annual revenue. The rally helped lift the Nasdaq Composite 1.6%, the S&P 500 0.7% and the Dow Jones Industrial Average 0.2%, with Salesforce also gaining after stronger-than-expected profit.
Analysis & opinion
AI Bull CaseMostly Center
Strong results and real customer profits show the AI trade is supported by genuine demand rather than hype. Nvidia’s chip sales and broader tech strength undermine bearish arguments about the sector.
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