Tech Stocks Rise as Nvidia and Salesforce Report Strong AI-Driven Earnings
Technology stocks led Wall Street higher on Thursday after companies like Nvidia, Salesforce, and others reported stronger-than-expected profits driven by artificial intelligence. The S&P 500 rose 0.7%, the Dow Jones Industrial Average gained 0.2%, and the Nasdaq composite climbed 1.6%. Nvidia surged 8.7% due to robust earnings and optimistic revenue forecasts for AI chips, while Salesforce jumped 22.6% after reporting one of its best quarters in history thanks to strong demand for its AI products. Despite these gains, most stocks within the S&P 500 fell on mixed results from other major U.S. companies. HP dropped 2.9%, and Best Buy declined by nearly 4.4%. Dollar General rose after beating profit expectations but faced a decline in rival Dollar Tree due to weaker-than-expected revenue guidance. The market's focus remained largely on AI-driven growth, with optimism tempered by concerns about sustainability if the sector fails to deliver promised profits.
Tickers: $CRM $DG $DLTR $HPQ $NVDA
Topics: AI earnings reports technology stocks