Nvidia Leads Tech Rally Amid Mixed Futures and Surging AI Demand.

The Dow Jones Industrial Average fell while tech stocks jumped after weekly jobless claims and revised first-quarter GDP estimates came out ahead of the market open. Chipmaker Nvidia soared more than 25% after reporting a smaller-than-expected earnings decline, bolstered by a "surging demand" for AI chips. Initial claims from the Labor Department unexpectedly fell to 229,000 vs. 242,000 in the previous week. They were expected to rise to 248,000, per Econoday estimates. Also, the second estimate of first-quarter GDP from the Commerce Department came in at 1.3%, higher than Wall Street's estimate at 1.1% growth.