Tech Stocks Surge as Nvidia and Salesforce Beat Expectations

Nvidia's strong quarterly results and forecasts topped expectations for revenue growth, propelling technology stocks to lead Wall Street on Thursday. The S&P 500 rose 0.7% after Nvidia rallied 8.7%, its strongest gain among major tech companies.

The chip giant's success helped alleviate worries about the future of artificial-intelligence (AI) stocks, which have faced skepticism in recent weeks. Nvidia CEO Jensen Huang stated that 'AI has reached its inflection point,' with tokens being productive and profitable.

Meanwhile, Salesforce surged 22.6% after reporting stronger profits than analysts expected. The company's AI-powered products saw significant demand, according to CEO Marc Benioff, who also noted an expanded partnership with Anthropic's Claude chatbot.