Nasdaq Leads Wall St Higher as Nvidia Results Loom
The tech-heavy Nasdaq led Wall Street's main indexes higher on Wednesday as chip stocks rebounded ahead of Nvidia's results that are crucial to illuminating future demand for AI. CompaniesIntuit gains after forecasting Q3 revenue above estimatesGM rises on $6 billion buyback, higher dividend planIndexes up: Dow 0.27%, S&P 500 0.53%, Nasdaq 0.82%
- The resilience of chip stocks in the face of increasing competition and regulatory scrutiny may signal a shift towards sustainable growth models within the semiconductor industry.
- Will Nvidia's results be enough to overcome the lingering concerns about overcapacity in AI infrastructure, or will the company's dominance in this space prove insurmountable for its competitors?