NASDAQ, S&P 500 settle higher post Nvidia's bullish forecast; Salesforce up 23%

Wall Street ended in the green territory on Thursday as AI chip manufacturer Nvidia's earnings lifted investors' sentiments.

The NASDAQ Composite rose 1.57% to settle at 26,541.35, while the S&P 500 closed at 7,730.99, up 0.72%. The Dow Jones Industrial Average advanced 0.2% to 53,569.44.

Shares of NVIDIA Corp skyrocketed 8.74% to $227.98 apiece after its revenue rose 106% year-on-year to $96.2 billion in the second quarter of the financial year 2026-27.

For the third quarter of the current fiscal year, the company forecasts its revenue to be $108.0 billion, plus or minus 2%.

"AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue. And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world," said NVIDIA CEO and founder Jensen Huang.

"The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment," he added.

The stocks of Broadcom, Intel, SK Hynix and Applied Materials Inc also rose 4.49%, 4.36%, 2.27% and 0.54%, respectively.

Salesforce Inc shares saw an uptick of 22.58% to $252.05 apiece after posting record second quarter results. Its revenue rose 11% year-on-year and in constant currency to $11.3 billion.

Other stocks that climbed include CrowdStrike Holdings (20.49%), Veeva Systems (15.19%), Synopsys (13.38%), Adobe (5.73%), and Palantir Technologies (4.74%), among others.

Brent Crude, the international standard, fell 0.22% to $88.28 per barrel. West Texas Intermediate (WTI) declined 0.51% to $83.10 a barrel.

Meanwhile, investors will closely monitor Federal Reserve chairman Kevin Warsh's keynote address on Friday in Jackson Hole.