New York, RakyatNTT.ID — The U.S. stock market on Wall Street closed at another record high on Tuesday, driven by a sharp rally in Nvidia shares amid growing optimism in the artificial intelligence (AI) sector.

According to Reuters, Nvidia CEO Jensen Huang announced plans to build seven AI supercomputers for the U.S. Department of Energy, alongside securing $500 billion in chip orders — marking one of the largest AI infrastructure deals in history.

Following the announcement, Nvidia stock jumped 5%, adding over $230 billion in market capitalization and placing the company on the verge of becoming the first-ever $5 trillion firm in valuation.

Wall Street Indexes Close Higher

All three major U.S. stock indexes finished the session higher:

  • Dow Jones Industrial Average rose 161.78 points (0.34%) to 47,706.37.
  • S&P 500 gained 15.73 points (0.23%) to 6,890.89.
  • Nasdaq Composite Index climbed 190.04 points (0.8%) to 23,827.49.

The technology sector led the gains, with Microsoft and Nvidia driving momentum across the board.

Microsoft Strengthens AI Partnership with OpenAI

Microsoft Corp. shares also rose 2% after confirming that OpenAI — the developer of ChatGPT — will transition into a Public Benefit Corporation (PBC).

Under this restructuring, Microsoft will hold a 27% stake in OpenAI, further solidifying its leadership in AI research and enterprise integration.

Investors Await Big Tech Earnings

Investors are now eyeing quarterly earnings reports from major technology players, including Apple, Microsoft, Alphabet, Amazon, and Meta Platforms.

Market participants expect detailed updates on AI spending and investment strategies from these firms.

Apple Inc. shares edged up 0.1%, after briefly surpassing a $4 trillion market capitalization for the first time in its history.

“Momentum and earnings results are pushing the market higher. So far, earnings have been impressive,” said Peter Cardillo, Chief Economist at Spartan Capital Securities in New York.
“However, investors are still waiting for the results from the big tech names.”

Earnings Growth and Market Breadth

According to data from LSEG, out of 180 S&P 500 companies that have reported so far, third-quarter earnings are up 10.5% year-over-year, exceeding earlier projections.

At the New York Stock Exchange (NYSE), declining issues outnumbered advancing ones by a ratio of 1.35-to-1, with 613 stocks hitting new highs and 102 reaching new lows.

Trading volume stood at 20.5 billion shares, slightly below the 20-day average of 20.96 billion shares. (*/rnc)