US equities were mixed on Thursday as investors evaluated Nvidia’s earnings and their implications for the broader AI-driven rally that has supported US stock indices over the past three years. The S&P 500 ended little changed, the Nasdaq 100 slipped 0.4%, and the Dow Jones Industrial Average rose 0.5%.
Nvidia shares fell 1% despite the company beating expectations on both earnings and revenue, highlighting the growing scrutiny facing the tech sector amid doubts that the surge in capital expenditure on AI computing may have been overstated. Meanwhile, Salesforce gained 1.5% after issuing a lukewarm sales outlook for the coming fiscal year. Software-as-a-service providers have come under increased pressure this month as advances in AI automation tools have fueled concerns about potential disruption to the sector.
Outside technology, energy producers edged lower as nuclear talks between Iran and the US got under way, raising questions about how strictly Washington will enforce sanctions and how this may affect tanker traffic through the Strait of Hormuz.
