Nvidia and Salesforce Drive Tech Stocks Higher on AI Demand
Tech stocks led Wall Street higher on Thursday after Nvidia and other major companies reported robust profits for the spring, fueled by strong demand for AI chips.
Nvidia was the standout performer, surging 8.9% as it delivered better-than-expected profit and revenue for the latest quarter and raised forecasts for upcoming growth.
The company's CEO, Jensen Huang, said AI has reached an 'inflection point,' with its tokens being productive and profitable. This helped calm worries that AI stocks had shot too high and demand for chips may fade.