Nvidia and ASML surge after reports of U.S. export control exemptions

U.S. tech stocks rally on renewed AI enthusiasm

20240731 N US stocks

Chip stocks lead a U.S. rally following reports of foreign chip equipment export restrictions will exempt Washington's allies. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- Tech shares rallied early Wednesday, pushing the Nasdaq composite up over 2.5% after Microsoft and AMD earnings underpinned renewed enthusiasm for artificial intelligence spending.

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