Intel's Meteoric Rise: In the Wake of a $5 Billion Nvidia Stake

Wall Street surged to new highs after a Federal Reserve interest rate cut was announced. Nvidia's $5 billion investment in Intel boosted the chipmaker's stock by 29%—its best performance since 1987. Meanwhile, the Nasdaq and S&P 500 tech sectors hit record levels amid overall market optimism.

In a significant boost for Wall Street, markets closed at record highs following the Federal Reserve's decision to cut interest rates by 25 basis points. The move further fueled optimism, with investors anticipating more cuts in the future to support economic growth.

Intel experienced a historic jump, rising 29% after Nvidia revealed a $5 billion investment plan. This strategic move not only enhanced Intel's market value but also sent ripples across the semiconductor sector, boosting the broader tech-heavy indexes.

Simultaneously, the Nasdaq and S&P 500 technology sectors climbed to all-time highs, as hopes for continued monetary policy support and a rebound in AI-linked stocks fueled market gains. Despite some losses in consumer staples and energy sectors, the overall market outlook remained positive.

(With inputs from agencies.)