Nasdaq Closes Above 17,000 for First Time Amid Nvidia Rally

Nvidia Shares Help Lift Nasdaq

Nvidia shares surged again Tuesday, adding to their outsized recent gains on an otherwise lackluster day for stocks. News that Elon Musk’s xAI had raised $6 billion in private financing provided an extra boost to Nvidia shares, highlighting the frenzy of artificial-intelligence investment that has turned the chip maker into a market behemoth. Overall, investors are “digesting what was a pretty good earnings season,” said Ed Clissold, chief U.S. strategist at Ned Davis Research.

The Wall Street Journal•

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