The Globe and Mail reports in its Friday edition that U.S. stocks ended sharply up on Thursday, with the S&P 500 approaching record highs as artificial-intelligence optimism drove gains in Nvidia and other chipmakers. A Reuters dispatch to The Globe says that stocks were also higher in Canada, but gains were held in check by uncertain prospects for the expected start of central bank interest rate cuts. U.S.-listed shares of Taiwan Semi soared nearly 10 per cent after the world's largest contract chipmaker projected 2024 revenue growth of more than 20 per cent on booming demand for high-end chips used in AI applications. Nvidia rose 1.9 per cent to a record high. "AI has caused this industry to have a 'rip your face off' rally, and I don't think it's stopping any time soon," said Jake Dollarhide, chief executive officer of Longbow Asset Management. Apple jumped 3.3 per cent after BofA upgraded the iPhone maker's stock to "buy" from "neutral." That helped the S&P 500 Information Technology Index rise 2 per cent and hit a record high. The S&P/TSX Composite Index ended up 61.71 at 20,756.73, clawing back some of the previous day's sharp decline. Bond yields Thursday rose modestly in both Canada and the U.S.