Tech Up as Tesla, Alphabet Rally -- Tech Roundup

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Tech Up as Tesla, Alphabet Rally -- Tech Roundup

Dow Jones12-12

Shares of technology companies rose as traders chased momentum in the sector.

Tesla shares rose to all-time highs after General Motors abandoned its Cruise self-driving car program, clearing the competitive field for Tesla and rival Alphabet.

Shares of Alphabet, which owns the Waymo robotaxi maker, completed their biggest two-session gain since 2015. Other artificial-intelligence firms gained in sympathy.

Nvidia, which makes the chips that enable AI technology such as robotaxis, rose by more than 3%, recouping losses associated with a probe by Chinese antitrust authorities.

Zalando plans to submit an offer to buy About You, valuing its smaller peer at $1.27 billion, in a move to expand its offering in the European e-commerce fashion market.

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

(END) Dow Jones Newswires

December 11, 2024 17:17 ET (22:17 GMT)

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