Nvidia ignited a technology rally on Wall Street

The US stock market rose on Thursday when Nvidia’s the strong result and outlook strengthened confidence in the continuation of artificial intelligence trading.

A rally in technology stocks lifted the S&P 500, even as most stocks in the index fell.

The S&P 500, which broadly tracks large companies, rose 0.7 percent. The technology-focused Nasdaq gained 1.6 percent. The flagship Dow Jones index rose 0.2 percent.

The company of the day was Nvidia, which makes artificial intelligence systems, whose stock rose 8.7 percent.

The company exceeded analyst expectations, and its second quarter net sales more than doubled. The company estimates that the turnover will grow by about 70 percent in the next fiscal year.

The strong outlook supported the notion that AI investments will continue to grow

Chip stocks rose broadly along with Nvidia. Broadcom rose 4.5 percent, SK Hynix rose 2.3 percent and Intel 4.4 percent.

The technology rally also extended to software and cyber security companies. According to the news agency Bloomberg, the ETF that tracks software companies rose the most since April 2025 The Salesforce and Crowdstriken after strong predictions.

Salesforce rose 22.6 percent after the company’s second-quarter revenue beat Wall Street’s forecast.

About cyber security companies Okta rose 28.6 percent and Crowdstrike 20.5 percent. The companies exceeded analyst expectations and raised their outlook.

Oil prices rose as diplomatic efforts to reach an agreement on the Strait of Hormuz faced obstacles. According to the Wall Street Journal, the Trump administration has told mediators that it is not interested in returning to the terms of the memorandum of understanding signed with Iran in June.

WTI crude rose 1.7 percent to $83.64 a barrel. Brent crude rose two percent to $89.64.

Network equipment manufacturer on the New York Stock Exchange Nokian depository receipt, or ADR, rose 1.7 percent to $10.59.