S&P 500 ends near record high on AI optimism

The S&P 500 climbed 0.88% to end the session at 4,780.94 points. The Nasdaq gained 1.35% to 15,055.65 points, while the Dow rose 0.54% to 37,468.61 points.

NEW YORK: US stocks ended sharply up on Thursday, with the S&P 500 approaching record highs as AI optimism drove gains in Nvidia and other chipmakers.

US-listed shares of Taiwan Semiconductor Manufacturing (TSMC) soared nearly 10% after the world's largest contract semiconductor maker projected 2024 revenue growth of more than 20% on booming demand for high-end chips used in artificial-intelligence applications.