Nvidia Earnings Send US Stock Market Soaring Amid AI Optimism

Nvidia's strong earnings have boosted the US stock market, with the Nasdaq leading the gains. The tech giant reported a doubling of revenues compared to last year and forecasted a 70% revenue growth for fiscal 2028. This news has alleviated concerns about the demand for AI-related infrastructure.

The Nasdaq jumped 1.46%, reaching 26,512.07, while the S&P 500 rose 0.64% to 7,724.58. The Dow Jones Industrial Average climbed 0.15% to 53,543.62. Nvidia's stock price surged more than 7% after its strong earnings report.

However, not all stocks were affected positively by the news. Some large technology and consumer names remained under pressure despite the broader improvement in sentiment. The Federal Reserve meeting in Jackson Hole and Chairman Kevin Warsh's speech will be key events to watch for investors.