Technology stocks powered higher after Nvidia’s blockbuster third-quarter results helped cool growing fears that the AI boom was heading for a painful correction.
Shares in Nvidia jumped 3.6pc as the world’s most valuable company forecast fourth-quarter sales above analysts’ expectations and comfortably beat revenue estimates for the previous quarter.
Chief executive Jensen Huang brushed aside concerns about an AI bubble, telling investors:
“We see something very different.”
Zak Mir takes a charting look at S&P 500, Nasdaq 100, Haoxin, Lunai, Magnitude, Nvidia, Nuvation, Ridegtech, Santech, Sigma Lithium, SG Blocks, WeShop.
The upbeat outlook lifted the wider tech sector, with most megacap and growth names rallying. Alphabet surged 3.2pc, while Meta climbed 2.1pc, as confidence flowed back into AI-linked stocks.
In early trading, the S&P 500 rose 1.7pc, the Nasdaq Composite advanced 2.1pc, and the Dow Jones Industrial Average was up 1.2pc, signalling broad-based optimism across Wall Street.
