Nvidia and Salesforce Boost Tech Stocks with Strong AI-Fueled Earnings

Tech stocks led Wall Street higher on Thursday after Nvidia and Salesforce reported strong profits for the spring, exceeding analysts' expectations.

Nvidia's stock surged 8.7% as the chip giant delivered stronger profit and revenue than expected, and provided forecasts for upcoming revenue growth that topped analyst estimates.

Nvidia CEO Jensen Huang said 'AI has reached its inflection point', with AI doing useful work and producing profitable tokens.

Salesforce also jumped 22.6% after saying AI helped it deliver one of its best quarters in history, with stronger profit than expected and a raised forecast for revenue over the full year.