Nasdaq Jumps at Open as Nvidia Forecast Sparks AI-driven Rally

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City on May 22, 2023. Brendan McDermid/Reuters

The Nasdaq rose at open on Thursday as Nvidia shares soared on a blowout forecast from the chipmaker that also helped drive an AI rally, while progress in U.S. debt ceiling talks further boosted sentiment.

The Nasdaq Composite rose 222.28 points, or 1.78 percent, to 12,706.44 at the opening bell.