Tech Up in Late Hours as Nvidia Emboldens AI Bulls: Markets Wrap
- Nvidia forecast shatters estimates as AI boom stays strong
- Minutes show officials rallying around higher-for-longer rates
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Big tech climbed in late trading after Nvidia Corp.’s solid results and outlook bolstered confidence in the artificial-intelligence frenzy that has powered the stock rally.
A $270 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) gained after the giant chipmaker predicted another blowout sales gain. The poster child for AI said second-quarter revenue will be about $28 billion — beating estimates. The company also announced a 10-for-1 stock split and boosted its quarterly dividend by 150% to 10 cents a share.