NEW YORK (AP) — Wall Street is rising toward more records on Thursday as Nvidia and Intel lead a rally for technology stocks after announcing a deal that includes a $5 billion investment.
The S&P 500 rose 0.6% and was on track to squeak past its all-time high, which was set at the start of the week. The Dow Jones Industrial Average was up 190 points, or 0.4%, as of 1:33 p.m. Eastern time, and the Nasdaq composite was 1.1% higher. Both were likewise flirting with records.
Intel soared 23.7% and was heading toward its best day since 1973 after Nvidia said it would buy $5 billion of the chipmaker’s stock. It’s part of a collaboration where the pair will develop products for data centers and personal computers. Nvidia climbed 3.4% and was by far the strongest force lifting the S&P 500 becaus