Tech Sector Rally Lifts Major Indexes as Nvidia Invests $100B in OpenAI

U.S. equities surged Monday afternoon, fueled by a tech sector rally headlined by Nvidia's landmark $100 billion investment in OpenAI. The chipmaker's commitment to building AI data centers sent its shares soaring, with Ripple effects across semiconductor partners like Super Micro Computer and Micron Technology.

Teradyne jumped 12% after Susquehanna nearly doubled its price target, citing structural demand growth for chipmaking equipment. The Optimism extended to Applied Materials and ASML as semiconductor capital expenditure forecasts brighten.

Apple gained ground after Wedbush raised its price target to a Street-high $310, anticipating stronger-than-expected demand for next-generation iPhones. The bullish sentiment contrasted with Kenvue's decline amid regulatory concerns over its Tylenol product line.