Nvidia's AI Boom Lifts US Stock Futures Amid Dollar Store Sales Surge

US stock futures are mostly higher as demand for artificial intelligence technology boosts business for Nvidia and other tech companies exposed to AI.

Nvidia's shares rose over 7% ahead of the opening bell after the company beat Wall Street expectations with soaring revenue from its computer chips. This surge in AI-related earnings helped lift shares of Marvell Technology, SanDisk, Micron Technology, and Super Micro Computer.

In contrast, U.S. dollar stores are also seeing a boom in business as Americans try to cut costs due to years of stubborn inflation. Dollar General and Dollar Tree both exceeded Wall Street expectations for the second quarter and raised their profit outlook for the year.