Tech Advances as Mixed Nvidia Report Fails to Quell AI Exuberance - Tech Roundup

Dow Jones06:15

Shares of technology companies rose as artificial-intelligence optimism prevailed, despite a mixed report from one bellwether.

Nvidia shares rose slightly in volatile trade after the maker of AI technology forecast fourth-quarter revenue more or less in line with third-quarter levels. Nvidia has become the most valuable company in the world by market capitalization due to its torrid AI-driven growth rate, but there are now signs of the growth rate slowing.

Alphabet shares slid after the Justice Department said Google should have to sell off its popular Chrome browser as part of a court-ordered fix to its monopolization of the online search market.

Cloud-computing firm Snowflake leapt after it posted third-quarter revenue ahead of Wall Street targets.

Cerence's loss widened but the AI firm's operating earnings topped analyst estimates, sending its shares soaring.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 21, 2024 17:15 ET (22:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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