The Nasdaq Composite rose more than 2.5% Thursday, posting its best session in over a month, as chipmakers and other AI-related stocks rallied. Hedge fund Situational Awareness, founded by a former OpenAI employee, sold its entire public investment portfolio to Citadel, ending forced selling that had weighed on the sector. Micron and AMD jumped 17% and 13% respectively. Johnson & Johnson cut its full-year adjusted EPS guidance from $11.60 to $11.75 down to $10.96 to $11.11, due to acquisition-related accounting charges rather than operational deterioration. The company announced a collaboration with Sail Biomedicines to develop in vivo CAR-T therapies for immune-mediated diseases.
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