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<US Mkt>S&P 500 Hits Record High; Nasdaq Closes Up 252 Pts; Oracle/ Nvidia/ Arm Soar on New AI Policy
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On Tuesday, US President Donald Trump announced the formation of a joint venture named Stargate with OpenAI, Oracle (ORCL.US), and SoftBank, aiming to invest at least US$500 billion in AI infrastructure within the US. As investors flocked to the AI sector, Oracle closed rallying 6.8%, pushing the S&P 500 to a record high of 6,100. It ultimately closed up 37 points or 0.6% at 6,086. With tech stocks surging on Wednesday, the Nasdaq led the three major stock indices. It ended the day up 252 points or 1.3% at 20,009. Procter & Gamble (PG.US) closed about 2% higher on the back of strong earnings, but the DJIA's gains were modest. It closed inclining 130 points or 0.3% at 44,156. AI-related stocks were on a sharp rise. Recognized by the Trump administration, chip designer Arm (ARM.US) rocketed 16% for the day. Nvidia (NVDA.US) swelled over 4% on the reports regarding its participation in AI infrastructure. Elon Musk questioned the Stargate policy's lack of substantial financial backing. Tesla (TSLA.US), unrelated to Trump's AI plan, tumbled over 2% against the market trend. AAStocks Financial News |
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