The Nasdaq Composite Index increased by approximately 1.3% on Tuesday.
Nvidia's stock surged higher on Tuesday, jumping as much as 5.6%. As of 11:54 a.m. ET, the stock was still up 5.1%. The catalyst that sent the chipmaker and artificial intelligence (AI) specialist higher was word that another AI start-up had raised billions of dollars, which is likely good news for Nvidia.
The Dow Jones Industrial Average (DJIA) fell 299.05 points, or 0.8%, on Tuesday, while the tech-heavy Nasdaq Composite rose 1.3%, and the benchmark S&P 500 gained 0.4%. The contrasting performances were largely due to a rebound in shares of AI chipmaker Nvidia, which fueled a Big Tech rally.