Stocks rose to fresh records Thursday after the Federal Reserve, as expected, trimmed interest rates by a quarter-point and signaled it could make two additional cuts this year. Intel soared 23% to $30.57 after Nvidia said it would invest $5 billion in Intel at a purchase price of $23.28 a share as part of an agreement that will see the technology companies co-develop “multiple generations of custom data center and PC products.” Rival chip makers Advanced Micro Devices and Arm Holdings were down 0.8% and 4.5%, respectively, while U.S.-listed shares of Taiwan Semiconductor Manufacturing were up 2.2%.
