Nvidia Boosts Nasdaq by Almost 2% as AI Chip Stocks Rally
NVDA•Nvidia joined Amazon and Alphabet in propelling the Nasdaq up almost 2% Friday, as AI chip demand sent SK hynix and Samsung shares up 3% in Seoul. Oil prices slipped further after US forces lifted a naval blockade of the Strait of Hormuz under a new US–Iran oil memorandum.
1. Nasdaq Soars on Tech Heavyweights
Tech giants Nvidia, Amazon and Alphabet drove the Nasdaq up nearly 2% Friday, offsetting weak demand concerns elsewhere. Nvidia’s gains reflected renewed investor confidence in AI-driven growth prospects for semiconductor firms.
2. AI Chip Demand Lifts Asian Makers
In Seoul, SK hynix and Samsung saw their shares jump 3% as AI-related chip orders surged. The Kospi index reached a record high, propelled by expectations of robust semiconductor sector earnings.
3. Oil Prices Slide After Hormuz Blockade Lift
Oil extended losses after US forces lifted the naval blockade of the Strait of Hormuz under a new US–Iran oil memorandum. Traders anticipate a gradual return to pre-blockade supply levels, pressuring benchmarks further.
