Wall Street Hits Records as Nvidia Surges 6% on AI PC Chip, US-Iran Talks Advance

U.S. stocks rallied to all-time highs on Monday, June 1, 2026, propelled by Nvidia's (NVDA) new AI personal computer chip and President Donald Trump's assurance that negotiations with Iran are progressing rapidly. The Dow Jones Industrial Average rose 46.42 points, or 0.09%, to close at 51,078.94. The S&P 500 added 0.26% to 7,599.96, briefly surpassing the 7,600 mark intraday. The Nasdaq Composite gained 0.42% to 27,086.81. Nvidia shares surged 6.26% after CEO Jensen Huang unveiled the RTX Spark super chip featuring the N1X processor, co-developed with Microsoft (MSFT) and MediaTek, at the COMPUTEX trade show in Taipei. The move signals Nvidia's entry into the PC market, pressuring traditional CPU makers Intel and AMD, which fell more than 3% and 2%, respectively. Micron (MU) rose 6.64% on expectations of higher memory demand. Oil prices stabilized after volatile trading, with West Texas Intermediate settling above $92 a barrel and Brent crude near $95, as Trump confirmed talks with Iran were advancing despite earlier reports of a suspension. Separately, Berkshire Hathaway (BRK.B) declined 1% after announcing an $8.5 billion acquisition of homebuilder Taylor Morrison (TMHC), which surged over 22%.