Tech Stocks Surge as Nvidia Soars, Fed Focus Turns to Inflation

U.S. tech stocks rallied on Thursday due to Nvidia's impressive earnings report and outlook, which boosted the benchmark U.S. indexes despite declines in other sectors.

The chipmaking giant's revenue growth and forecasts have been astonishing, with some analysts speculating that annual revenue could reach $1 trillion in a couple of years.

However, investors remain cautious ahead of Fed Chair Kevin Warsh's keynote speech in Jackson Hole on Friday, where he is expected to address inflation concerns and the central bank's monetary policy framework.

Warsh has faced criticism for his handling of communication at the Federal Reserve, with some arguing that he needs to send a clear message on price stability.