Major U.S. equities indexes moved greater on Thursday, including to the all-time highs posted within the earlier session.

The record-setting rally comes after the Federal Reserve mentioned it will hold interest rates steady yesterday, however reiterated projections for 3 price cuts in 2024.

The S&P 500 superior 0.3% on the day. The Dow and the Nasdaq have been up 0.7% and 0.2%, respectively.

Enthusiasm for semiconductor companies that stand to profit from the proliferation of synthetic intelligence (AI) expertise took heart stage as soon as once more. Shares of Micron Technology (MU) led the S&P 500 greater, hovering 14.1% after the producer of reminiscence and storage chips beat quarterly sales and profit estimates amid sturdy AI-driven demand.

Server producer Super Micro Computer (SMCI) noticed its shares bounce 8.4% on Thursday, recovering a few of the losses posted within the earlier session after the agency mentioned it will promote round $2 billion value of inventory. Despite the issuance of further shares, the corporate has made strategic investments that might enhance its place as a provider to AI-focused corporations. Super Micro Computer inventory debuted on the S&P 500 earlier this week.

Other semiconductor shares additionally traded greater. Broadcom (AVGO) shares gained 5.6% after TD Cowen upgraded the inventory and lifted their worth goal. Broadcom’s AI infrastructure occasion helped persuade the analyst group that the chipmaker’s customized silicon and back-end AI networking merchandise might drive sturdy progress.

Shares of Accenture (ACN) suffered the heaviest losses on the S&P 500, tumbling 9.3% after the consulting agency reduced its guidance amid a slowdown in gross sales and new bookings. Accenture’s CEO famous the corporate was going through an “uncertain macro environment.”

Financial knowledge and analytics supplier FactSet Research Systems (FDS) posted combined monetary outcomes, beating earnings estimates however falling quick on income, and its shares dropped 7.6%. The firm additionally mentioned it expects full-year income to come back in on the low finish of its beforehand issued steering.

Darden Restaurant (DRI) shares slipped 6.5% after the operator of Olive Garden, LongHorn Steakhouse, and different restaurant chains posted lower-than-expected quarterly income and lower its full-year gross sales outlook. Although Darden acquired a lift from Ruth’s Chris Steak House, which it bought final yr, same-store gross sales declined at Olive Garden, its largest income generator.