NEW YORK—Wall Street’s building frenzy around artificial intelligence helped yank the stock market higher Thursday, even as worries worsen about political rancor in Washington.
The S&P 500 rallied 0.9 percent after chipmaker Nvidia gave a monster forecast for upcoming sales as it benefits from the tech world’s rush into AI. It helped the Nasdaq composite leap 1.7 percent, while the Dow Jones Industrial Average slipped 35 points, or 0.1 percent.
Because it’s one of Wall Street’s most valuable stocks, Nvidia’s 24.4 percent surge was the strongest force pushing upward on the S&P 500. Its forecast of roughly $11 billion in revenue for the current quarter blew past analysts’ expectations for less than $7.2 billion. Nvidia’s stock has already more than doubled this year, and its total value is approaching $1 trillion….