Stock Market Update

[BRIEFING.COM] Strength across tech stocks keeps the S&P 500 (+0.5%) and Nasdaq Composite (+1.2%) charting session highs this morning, while the DJIA remains on its flat line. The PHLX Semiconductor Index is up 1.9%, moving it into positive week-to-date territory.

NVIDIA (NVDA 226.03, +16.37, +7.81%) delivered another exceptionally strong quarter, but the bigger takeaway from last night's earnings call was that the AI buildout shows little sign of slowing. NVIDIA posted its typical large beat for Q2 (Jul) and issued strong upside revenue guidance for Q3 (Oct), while management's commentary was even more bullish than usual. Most notably, NVIDIA said it expects FY28 revenue growth of approximately 70%. With NVIDIA Compute fully utilized across every cloud it serves and hyperscaler CapEx expected to reach nearly $800 billion in 2026 and $1.3 trillion in 2027, the key debate is increasingly shifting from whether AI demand is sustainable to how quickly NVIDIA can supply it.