Artificial intelligence fuels Nasdaq and S&P 500

North American stock markets closed mixed, with companies linked to artificial intelligence making a strong contribution on the positive side. A movement that gained strength after Nvidia released forecasts that far exceeded analysts’ expectations.

In the “guidance” released, the company showed how the growing demand for processors for artificial intelligence has the potential to reshape the sector. According to the chipmaker, sales in the quarter ending in July should reach US$11 billion – analysts’ expectations were US$7.18 billion. The numbers cheered the markets and gave encouragement to the shares of the sector, with Nvidia itself seeing the shares climb 24.37% to 379.80 dollars.

The benchmark S&P 500 rose 0.88% to 4,151.28 points, while the technological Nasdaq Composite gained 1.71% to 12,698.09 points. The industrial Dow Jones yielded, but slightly, by sliding 0.11% to 32,764.65 points.Most indices thus managed to close with gains, despite investors remaining cautious due to the impasse over the debt ceiling in the United States.

Source: Jornal de Negócios by

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