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Wall Street ends higher as Nvidia sparks rush for AI stocks

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The Nasdaq ended sharply higher after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related firms $NVDA

soared 6.8% to its highest level in more than a year in its biggest daily percentage rise since November., which investors view as lagging in the AI race, dropped 5.5%, weighing on the Dow Jones Industrial Average.

Wall Street has been jittery in recent days about dragging negotiations in Washington to raise the nation's $31.4 trillion debt ceiling and avoid a default.to a deal, with the parties just $70 billion apart on discretionary spending, Reuters reported, citing a source familiar with the talks. A trader work on the floor of the New York Stock Exchange in New York City, U.S., May 24, 2023. REUTERS/Brendan McDermid

 

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