A rally in megacaps spurred a rebound in stocks on speculation the artificial-intelligence boom will keep fueling market gains.
Traders brushed off any jitters surrounding Friday’s US jobs report to reignite the trade that’s driven the Nasdaq 100 up over 45% this year. Optimism around AI resurfaced, with Alphabet Inc. up almost 5.5% a day after Google released Gemini, the “largest and most-capable AI model” it has ever built. Advanced Micro Devices Inc. also rallied after saying this week its new accelerator chips will run AI software faster than rival products.