Nvidia Leads Tech Gains After Announcing $13 Billion Acquisition of Hugging Face
Stocks edged higher on Thursday, with tech stocks rising as Nvidia (NVDA) led the gains following its announcement to acquire AI model hub Hugging Face in a $13 billion deal. The move boosted investor confidence in artificial intelligence development and contributed to broader market optimism. The 10-year Treasury yield (^TNX) fell slightly ahead of Friday's jobs report, reaching 4.73%. Other notable movements included Snowflake (SNOW), which surged after a strong quarterly performance, while Broadcom (AVGO) saw its stock fall despite solid results due to revenue forecasts missing expectations. Meta (META), Campbell’s Soup Company (CPB), and Victoria's Secret & Co. (VSXY) were among the other stocks drawing attention from investors.
Tickers: $AVGO $CPB $META $NVDA $SNOW $VSCO
Topics: bond yields Hugging Face acquisition Nvidia tech stocks