Nvidia Sparked Tech Rally Failed to Expand to Broader Market
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U.S. stocks close lower on hawkish FOMC minutes-
Nvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chip-making dominance that has made the company an icon of the artificial intelligence boom.
NEW YORK, May 22 (Xinhua) -- U.S. stocks ended lower on Wednesday as investors digested hawkish minutes of the Federal Reserve's early May policy meeting and awaited Nvidia Corp.'s earnings.
Goldman Sachs: escalating electricity needs from running AI data centers will generate downstream investment opportunities that will benefit utilities, renewable energy generation, and industrial sectors.