© Reuters.
Investing.com – The Dow closed just higher Thursday as a tech-led rally underpinned by Alphabet and AMD offset losses in energy stocks ahead of the monthly jobs report due Friday.
By 16:00 ET (21:00 GMT), the benchmark had climbed 0.80%, the 30-stock had moved up by 0.2%, or 18 points, and the tech-heavy had risen by 1.4%.
Alphabet leads tech higher as unveiling AI prowess; AMD’s AI-chip in focus
Alphabet Inc Class A (NASDAQ:) rose more than 5% a day after the company unveiled its latest AI model Gemini. The new multi-model AI system, which understands audio, photos and video, comes as tech giant looks to take the fight to rivals OpenAI, Microsoft (NASDAQ:) and Meta (NASDAQ:).
Chip stocks also supported the broader tech sector, racking up a nearly 3% gain, underpinned by a surge in Advanced Micro Devices.
Advanced Micro Devices Inc (NASDAQ:) rose more than 9% after launching its new AI chip MI300X as the chipmaker takes the fight to Nvidia (NASDAQ:).
AMD’s management sees”MI300X performance surpassing NVDA H100 for AI workloads,” Oppenheimer said in a note.,
C3.ai, Chewy slump on guidance; GameStop unveils plan to buy stocks
Retail investor-favorite C3.ai…
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