Shares of technology companies rallied amid continued optimism about artificial intelligence.

Shares of Advanced Micro Devices rallied after the chipmaker rolled out a new line of semiconductors optimized for AI applications, in what analysts said represented the first viable challenge to Nvidia's dominance in AI semiconductors.

Morgan Stanley Investment Management exceeded its fundraising goals for two new vehicles that invest in privately held high-growth businesses, the New York firm said.

Apple shares tested all-time highs, with the world's largest company by market capitalization bringing its 2023 gains to 55%.

Write to Rob Curran at

(END) Dow Jones Newswires

12-07-23 1735ET