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Wall Street drifts as Broadcom and other AI-related stocks help support the market

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Wall Street drifts as Broadcom and other AI-related stocks help support the market

Business News Tech AI Wall Street drifts as Broadcom and other AI-related stocks help support the market

Wall Street drifts as Broadcom and other AI-related stocks help support the market

The S&P 500 rose 0.3 per cent and pulled within 1.5 per cent of its all-time high set earlier this month. The Dow Jones Industrial Average was down 9 points, or less than 0.1 per cent, as of 9:35 am Eastern time, and the Nasdaq composite was 0.5 per cent higher.

New York: Wall Street is holding relatively steady Tuesday as stocks in the artificial-intelligence industry help support the market, at least for now. The S&P 500 rose 0.3 per cent and pulled within 1.5 per cent of its all-time high set earlier this month. The Dow Jones Industrial Average was down 9 points, or less than 0.1 per cent, as of 9:35 am Eastern time, and the Nasdaq composite was 0.5 per cent higher. The majority of stocks within the S&P 500 were falling, but gains for influential AI-related stocks made up for that. It's a calm moment for such stocks following weeks of swerving on worries about whether their boom is under threat because of how expensive it's become for companies to borrow money to build data centers and buy more AI chips.

3 per cent after announcing a USD 63 billion financing deal where several Wall Street firms will help Anthropic get access to its XPU AI accelerators and networking solutions. 8 per cent and was the second-strongest force lifting the S&P 500 behind Broadcom.


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