By The Associated Press,Stan Choe
Publication Date: 2026-10-28 15:53:00
Stocks in the artificial-intelligence industry are leading Wall Street higher on Tuesday, as their yo-yo moves swing back upward.
The S&P 500 rose 0.6% and pulled within 1.2% of its all-time high set earlier this month. The Dow Jones Industrial Average was up 25 points, or less than 0.1%, with an hour remaining in trading, and the Nasdaq composite was 1.2% higher.
The majority of stocks within the S&P 500 were falling, but the gains for influential AI stocks made up for that. AI stocks are on track for a second winning day after swerving for weeks on worries about whether their boom is under threat because of how expensive it’s become for companies to borrow money to build data centers and buy more AI chips.
Broadcom climbed 4.2% after announcing a $63 billion financing deal where several Wall Street firms will help Anthropic get access to Broadcom’s XPU AI accelerators and networking solutions.
Elsewhere in the industry, Nvidia rose 0.8% and was one of the strongest forces behind Broadcom pushing the S&P 500 higher. CoreWeave, a company that’s borrowed money to buy AI chips that it rents out to customers over the cloud, jumped 8.5% following some severe swings that have hit hour-to-hour in recent days.
General Motors climbed 5.6% after saying it’s moving its stock from a listing on the New York Stock Exchange to the Nasdaq. The automaker said the Nasdaq, which is home to several of the world’s biggest technology stocks, is a fit for its…
