Stocks Rally Late After Nvidia’s Blowout Outlook: Markets Wrap

Shares of the world’s largest tech companies rallied in late hours on speculation that Nvidia Corp.’s blockbuster outlook will help reignite Wall Street’s artificial intelligence-driven rally.

A roughly $390 billion exchange-traded fund tracking the Nasdaq 100 advanced 1% after the close of regular trading. The giant chipmaker that’s seen as a barometer for the revolutionary technology gave a strong revenue forecast for the current period, helping counter concern that a global surge in AI spending is poised to fizzle. The shares spiked about 5%.