AI Stock Frenzy: Growth Stocks Go Parabolic as Tech Rally Surges
U.S. markets enter the week in a buoyant mood, shrugging off recent headwinds. Major indices closed Oct. 17 near all-time peaks ts2.tech, buoyed by blockbuster earnings and the promise of Fed rate cuts. Technology and AI-related stocks are powering the gains: the Nasdaq, in particular, has jumped about +15% so far this year ts2.tech. Investors point to robust corporate results and cooling inflation/interest-rate pressures. Big tech remains center stage. NVIDIA’s incredible momentum illustrates the theme: its GPUs are the backbone of the AI boom. In the latest quarter, NVDA’s revenue surged 56% to $46.7 billion ts2.tech, driven almost entirely by data-center AI chips. The stock flirted with a record near $195 in October – about 58% higher than a year ago ts2.tech – and analysts still see upside. “Loop Capital’s Ananda Baruah said we are entering the next ‘Golden Wave’ of GenAI adoption, with NVDA at the front end” reuters.com, leading to higher price targets.
