"AI Optimism Drives Surge in Nvidia and AMD Shares"

Shares of Nvidia and AMD surged as Wall Street analysts raised their price targets for the semiconductor giants due to optimism over higher demand for AI-powered chips, with Nvidia currently holding a dominant position in the market but AMD expected to gain ground this year. Nvidia's stock rose 3% to hit a new record high, while AMD's shares surged 7.5% to their highest level in more than two years. Analysts raised price targets for both companies, reflecting the positive outlook for AI chip demand, and both stocks are among the biggest gainers of the industry-wide PHLX semiconductor index.