Wall Street climbs despite Nvidia shortfall

Reuters

The S&P 500 and Dow Jones Industrial Average closed at record highs on Thursday (28 August), after Nvidia’s quarterly report fell short of investors’ lofty expectations but confirmed that demand for artificial intelligence infrastructure remains strong.

Nvidia shares dipped 0.8%, following Sino-US trade uncertainties which led the leading AI chipmaker to exclude potential China sales from its quarterly forecast. The company’s 56% year-on-year revenue growth highlighted that interest in AI technology continues to be robust.

The S&P 500 ended the session at 6,501.86 points, marking a record close for the second consecutive day. The Nasdaq rose 0.53% to 21,705.16 points, while the Dow Jones Industrial Average increased 0.16% to 45,636.90 points, surpassing its previous record close from 22 August.

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