U.S. Stocks Open Higher as Nvidia Slides 8.4% at the Bell

U.S. stocks opened higher Monday, but Nvidia fell 8.4%, placing a steep decline in a leading AI chipmaker against gains across major indexes and several large technology companies. The Dow Jones Industrial Average rose 1.3% at the open. The S&P 500 and Nasdaq Composite each gained 0.8%, putting all three benchmarks in positive territory as trading began. Google advanced 2.6% after introducing two new tensor processing units, or TPUs. The new chips were positioned as a challenge to Nvidia. Advanced Micro Devices rose 5.9%, Meta Platforms gained 3.9%, and Micron Technology added 1.9%. Nvidia’s opening decline came amid an event involving CEO Jensen Huang.

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