Nvidia and Broadcom gains drive major U.S. indexes higher, with the Dow Jones Industrial Average crossing 50,000 for the first time.
The Dow Jones Industrial Average crossed 50,000 for the first time, rising 0.94% as Nvidia and Broadcom led a broad market rally. The S&P 500 and Nasdaq-100 both gained 1% by midday Thursday, reflecting strong investor sentiment in AI-driven stocks.
Nvidia shares surged 4.3% to $235.63, adding $248 billion to its market capitalization after U.S. regulators approved sales of its H200 AI chips in China. Broadcom climbed 4.1% to $434 following a Wells Fargo price target increase to $545, citing stronger-than-expected AI semiconductor revenue.
The session began with mixed performance but converged as tech stocks drove gains, with all three major indexes posting similar percentage increases by midday.