Nvidia and Salesforce Surge on Strong Earnings

Tech stocks led Wall Street higher on Thursday after Nvidia and Salesforce reported stronger profits than expected in the latest quarter.

Nvidia, a chip giant, climbed 8.9% as it delivered better-than-expected profit and revenue for the spring season.

The company also gave forecasts for upcoming revenue growth that topped analysts' estimates, suggesting demand remains strong for chips to power artificial-intelligence projects.

'AI has reached its inflection point,' said Nvidia CEO Jensen Huang. 'It's doing useful work. Its tokens are productive and profitable.'

Salesforce jumped 21.6% after it said that AI helped it deliver one of its best quarters in history, reporting stronger profit than analysts expected.