Shares of technology companies rose as skepticism about AI prospects moderated.

Shares of artificial-intelligence poster child Nvidia rose sharply. "AI is certainly the real deal, in my opinion, but there are questions sometimes about 'will early winners end up being winners longer term?'" said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

"You have corporate America pumping billions and billions of dollars into AI ... the question is, when does it show up in earnings (apart from in a handful of companies)?" Tech stocks could continue to see volatility as investors await the answer to this question, Joyce said.

Monday.com shares rallied after the maker of project-management software reported second-quarter earnings and revenue that topped Wall Street estimates.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

08-12-24 1740ET