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The Dow Jones Industrial Average rose on Thursday as Treasury yields declined, while Nvidia's stock gained following an announcement of a partnership with Hugging Face.

The Dow Jones index rose on Thursday while Treasury yields declined, and Nvidia stock rallied following a reported deal with Hugging Face.

Nvidia announced a $13 billion acquisition of Hugging Face, an open-source AI platform, following Hugging Face's decision last year to reject a large investment from Nvidia to maintain independence.

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Nvidia CEO Jensen Huang and Tesla CEO Elon Musk urged policymakers at a G20 meeting to limit AI regulations to addressing 'actual and pragmatic harm,' warning that strict guardrails could stifle innovation during the US-China technological competition.

Enflame Technology, a China-based AI chipmaker backed by Tencent, conducted an IPO in Shanghai's Star Market valued at 6.12 billion yuan (US$910.9 million), with the retail portion oversubscribed by 4,073 times by 7 million investors.

Nvidia's market capitalization now represents approximately 8% of the S&P 500's total market cap, driven by the AI boom, making it larger than five combined sectors (energy, utilities, real estate, consumer staples, and materials).

The article title reports that Nvidia is close to a $14 billion acquisition of private AI startup Hugging Face, indicating a potential major deal in the AI sector.

Broadcom Inc.'s stock has declined significantly, losing approximately $520 billion in market value since early June due to a disappointing outlook.

The article identifies Nvidia, Amazon, and Micron as top AI stock picks for September, characterizing them as 'genius buys.' It provides no specific financial data, earnings figures, or operational metrics to support this valuation assessment.

The Dow Jones Industrial Average declined on Tuesday alongside a rise in crude oil prices.

A bond selloff drove US yields to 2008 highs amid rising oil prices from attacks on supertankers in the Strait of Hormuz, fueling inflation concerns and expectations of higher central bank rates.