AI Trade Hopes to End on High Note

The NASDAQ Composite rose on Friday, lifted by Oracle, as the artificial intelligence trade looks to regain its footing after experiencing volatility.

The Dow Jones Industrials ballooned 288.14 points by the end of the day, to 48,239.99

The S&P 500 index hiked 55.11 points to 6,829.87

The NASDAQ spiked 239.02 points to 23,245.38.

Oracle shares up more than 7% after TikTok agreed to sell its U.S. operations to a new joint venture that includes the software giant and private equity investor Silver Lake.

The jump marks a turnaround the for the stock, which has been a focal point of concern among investors this week after a report revealed that the cloud infrastructure company lost a key backer of one of its data center projects.

That dragged down other stocks linked to AI, including names such as Broadcom and Advanced Micro Devices.

Elsewhere in the space, shares of AI chip darling Nvidia rose more than 3% after Reuters reported that the Trump administration is reviewing the prospect of the company selling its advanced AI chips to China.

Earlier this month, President Donald Trump said that he will allow Nvidia to ship its H200 AI chips to “approved customers” in the country.

Additionally, Micron Technology shares extended their gains from the previous session, rising more than 7%. The stock surged 10% on Thursday the company gave robust guidance for revenues in the current quarter, saying that “demand is substantially higher than supply for the foreseeable future.”

The results reassured investors after recent sessions were swamped with jitters over the AI trade, which is now looking to score a strong finish to the year.

Prices for the 10-year Treasury gained ground, lowering yields to 4.15% from Thursday’s 4.12%. Treasury prices and yields move in opposite directions.

Oil prices gained 43 cents to $56.58.

Gold prices slid $1.70 to $4,362.80.