Shares of technology companies rose as optimism about a U.S.-Iran peace deal was offset by a mixed reception for Nvidia's earnings.
Shares of the artificial-intelligence bellwether slipped despite posting torrid revenue growth, far beyond Wall Street targets. Investors' expectations were already sky high, however, following a 67% increase in shares of the chip maker in the last 12 months, which has garnered it a stunning $5.3 trillion market capitalization.
Shares of quantum-computing stocks rose after the U.S. Commerce Department confirmed it planned to distribute roughly $2 billion in funding to nearly a dozen companies, fostering the development of the domestic quantum industry in return for stakes in the corporations. Shares of International Business Machines, which will receive about $1 billion, rose by more than 11%. Chip maker GlobalFoundries rose after it received a $375 million quantum-computing grant. Quantum firms such as IonQ and Rigetti Computing also surged.
SpaceX is preparing to launch a new version of its Starship rocket a day after officially kicking off its initial-public offering process.
The maker of Oura Rings, which track users' health, filed confidentially for an IPO.
