Nvidia’s stock price surged after delivering another blowout quarter, setting off a rally in other technology companies that carried Wall Street to another record high.
The chipmaker, a central player in the boom surrounding artificial intelligence technology, reported scorching demand for its semiconductors.
The S&P 500 rose 2.1% Thursday to another all-time high. The Nasdaq added 3%. The Dow, which has a smaller weighting in tech stocks, rose 1.2%, marking its first close above 39,000. Nvidia’s stock price rose more than 16%, leading gains among tech companies.
On Thursday:
The S&P 500 rose 105.23 points, or 2.1%, to 5,087.03.
The Dow Jones Industrial Average rose 456.87 points, or 1.2%, to 39,069.11
The Nasdaq composite rose 460.75 points, or 3%, to 16,041.62
The Russell 2000 index of smaller companies rose 19.09 points, or 1%, to 2,013.84.
For the week:
The S&P 500 is up 81.46 points, or 1.6%.
The Dow is up 441.12 points, or 1.1%.
The Nasdaq is up 265.97 points, or 1.7%.
The Russell 2000 is down 18.91 points, or 0.9%.
For the year:
The S&P 500 is up 317.20 points, or 6.7%.
The Dow is up 1,379.57 points, or 3.7%.
The Nasdaq is up 1,030.27 points, or 6.9%.
The Russell 2000 is down 13.24 points, or 0.7%.
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