NVIDIA shares rise, lifting broader U.S. markets

LOS ANGELES (KTLA) – Wall Street was thinking, what’s good for AI chip maker NVIDIA is good for us – and Wednesday was another good day for NVIDIA.

Its shares were up 5% after server maker Super Micro Computer said it would be using NVIDIA’s tech for its AI data center, and that pretty much bolstered positive sentiment on Wall Street across the board, with the Dow sharply higher.

On the other hand, shares of Google parent Alphabet were down 7% Wednesday after the tech giant posted disappointing revenue for its cloud computing division. Cloud computing is seen as some of the bread and butter of the tech world, and so that’s one that many analysts look at very closely.

Disney was down 2.5% after it warned of modest declines in streaming subscribers following Disney Plus price hikes.

On the economic front, payroll processor ADP said that 183,000 private sector jobs were created last month. That’s up from 176,000 private sector jobs the month before. The official tally from the U.S. Labor Department, including both public and private sector jobs, comes out on Friday.