Wall Street Closes Higher as Nvidia's Revenue Surges

Here is the latest from Wall Street, where the three major U.S. stock indices closed higher across the board.

AI frontrunner Nvidia led a market-wide rally after delivering financial results that easily exceeded market expectations.

Technology stocks spearheaded the gains by surging over 3%, while staples and consumer discretionary sectors saw declines of around 1%.

Nvidia was undoubtedly at the center of today's upward momentum.

Nvidia reported revenue more than double that of the same period last year and projected revenue growth for the next fiscal year at 70%, surpassing Wall Street forecasts.

Its stock surged 8% on news that it would supply next-generation chips to Amazon Web Services and pursue the acquisition of Hugging Face, expanding its territory even into the traditional CPU market.

This sparked a simultaneous surge across the software sector, with semiconductor stocks like Broadcom and Intel joining the rally, alongside Salesforce, which skyrocketed over 22% following strong second-quarter earnings.

However, there were also factors limiting the upside.

As expectations for negotiations between the U.S. and Iran weakened, international oil prices rebounded after four days, rising above 83 dollars per barrel.

Market attention now turns to Federal Reserve Chair Kevin Warsh's inaugural keynote speech at the Jackson Hole Symposium, scheduled for 11 PM tonight, Korean time.
※ Please note: This article was translated by AI and may contain errors.