Nvidia Fuels AI Boom as Stocks Hit New Highs

Stocks are trading near their session highs as the AI boom receives an additional boost from Nvidia's latest developments.

The tech giant has seen its stock rise after a strong earnings report, with shares up around 3% in extended trading. This surge is being attributed to the company's increasing focus on artificial intelligence, a trend that is expected to drive growth in the industry.

Nvidia's AI momentum got a further lift from a report released by Goldman Sachs earlier this week, which highlighted the growing demand for AI hardware and software. The firm upgraded its price target for Nvidia to $280 per share, citing the company's 'leading position' in the AI market.